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

To: Mike M who wrote (69425)	2/17/2001 9:05:22 PM
From: JRI	Read Replies (1) \| Respond to of 99985

The main problem I have with your logic is that a weak bounce off a major bottom will be perceived as a very bad sign, indeed, and it will signal bad times to come for the market medium-term (next weeks)....without setting a higher high here (which, I believe would have to be closer to 2600), we would be firmly putting in place a pattern of lower highs and lower lows...the next (low) of which WOULD break the 90 COMPX LOG CHART (even if we bounce here)...so a pretty good rally starting Tuesday is needed to prevent a major breakdown situation.. The '90 LOG COMPX is about as major support as it gets.....breaking major support never a good thing....... That why I see next week as fish-or-cut-bait.....let's count 'em at the end of the week, ok? All IMO of course, good luck to you