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

To: bobby beara who wrote (78369)	6/11/2001 1:25:25 AM
From: KymarFye	Read Replies (1) \| Respond to of 99985

"if we do not turn up from fridays debacle and the bulls fail to take control, that we have put in a lower high, in a new downtrend" au contraire - not a new downtrend until it puts in a lower low, which both the COMPX and the NDX have thusfar refused to do. And just as one higher high didn't make for an uptrend (at least one worthy of the name), it's quite possible that a break below 2050 or even 2000 on the Compx or 1769 on the NDX won't go much further to the downside than the fakeout-breakout went to the upside - and that COULD be the whole story until maybe a (late) Summer rally finally challenges the 200 day, which by then will be much flatter and more easily reachable than it is now. Just one scenario... but it's hard to imagine a collapse with Brad and Jennifer expecting.