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

To: KymarFye who wrote (60709)	10/16/2000 6:35:02 AM
From: bearshark	Read Replies (1) \| Respond to of 99985

Kymer: Few people study Edwards and Magee. Your note made it clear that you follow their analysis. I think Edwards and Magee is an excellent start that can be added to based on one's experience. I am not a complete Dow Theorist. However, I do rely on its basics. The INDU 9796 number comes from the INDU close of March 7, 2000. That was the first leg down in a potential bear market. A close below that number is my signal that we are in an economy led bear market and we are in the second leg down. To keep that a possibility, the INDU rally must be stopped by around 10,450 to 10,550 In December 1999, I posted the following. Message 12328303 Much of it has worked out. The INDU never reached its potential because the needed funds were being pushed into the speculative secondary markets during their last leg up.