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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (51714)	5/23/2000 10:37:00 AM
From: James Strauss	Respond to of 99985

Back And Forth... Back And Forth... ************************************** OJ: I concur with your MA lines... Quite a battle today... I have to believe that the Senate will vote in favor of China's admittance to the WTO tomw... If that can't goose the markets nothing can... We have 3200 to 3250 potential double bottom support... People were buying the end of day momentum and selling the opening today... This is a nervous crowd... I think we'll see a turnaround in the market today in anticipation of that China vote... If we get selling into any rally tomw, the BEAR will still be in control... We'll need to see an NDX close above 3330 by Wednesday's market close to have a shot at 3600... Otherwise we could test the 3100 area again... The S&P 500 MoneyFlow index is near a bottom... askresearch.com This suggests that it's time for some money to come off the table and back into equities... Jim