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

To: Zeev Hed who wrote (61626)	10/31/2000 11:27:04 AM
From: ahhaha	Read Replies (3) \| Respond to of 99985

In the second week of Aug '82 the DOW made a confirmed downside breakout and it would have dropped to 500 had not the FED started intense pumping operations on Thursday Aug 12. So it was only a bottom because the FED disrupted the game. It wasn't a technical bottom, a bottom determined by supply and demand of market participants alone. Had that happened you would have had a completely different set of statistics and then you would conclude that a bottom is typified by those kinds of statistics instead of the inadequate ones which actually occurred.