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

To: Techplayer who wrote (61039)	10/20/2000 12:53:38 AM
From: Gary Burton	Read Replies (1) \| Respond to of 99985

tp--sorry to butt in --remember Mar/May drop--first shot down was retraced 56% and broke the then downtrend line in the process so 'everybody' piled on with buys--then it rolled over a few days later and took out the prior low.--my 2c

To: Techplayer who wrote (61039)	10/20/2000 7:41:14 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

Techplayer: If the NAZ Sept 1 downtrend line is broken it will cause me to become more bullish short-term. A break above should indicate a continuation of the rally. Frankly, I will be surprised if the Sept 1 downtrend line is not broken soon in this rally, as the descending angle is steep. If it is not broken, then this rally was nothing more than a bull lure... However, on an intraday basis I would pay close attention to the price action to make sure the casino bosses are not using an initial trend line break as a lure... The futures currently as opposed to last night, are looking more agreeable with my expectations this morning, at least for now...<g> Regards, LG