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

To: Zeev Hed who wrote (79558)	7/6/2001 11:36:09 AM
From: eichler	Read Replies (1) \| Respond to of 99985

2060....prob a good gut feel, just posted the Fib retrace targets for the 166 point drop so far off the high. 2060 would be under but close to the 38% retrace...so conservative target whould have high probability. Agree with you that the close may be weak.

To: Zeev Hed who wrote (79558)	7/6/2001 2:19:39 PM
From: t2	Respond to of 99985

The question how much, I have a gut feel we bounce to the 2060 area and turn back, we may close under 2000. This would be a light volume week and we probably more traders in the market than investors. Does that mean the traders cover into the close? The market looks really weak but this factor could work its way into trading in the last hour or so...or maybe not. It would make sense to cover unless there are reasonable odds of some of the bigger companies meeting or beating expectations...IBM, INTC, MSFT types. There sure seems a lot of gloom and doom about the market at this point (I sure feel it). If there is sufficient doubt even about the above names, it makes sense for the market to head south. The strong dollar is making it harder for the techs to come out of this business decline.