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

To: James Strauss who wrote (400)	12/4/1998 2:48:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 99985

Looks like the large "nuts" are getting clipped as we speak..DD

To: James Strauss who wrote (400)	12/4/1998 3:22:00 PM
From: donald sew	Read Replies (2) \| Respond to of 99985

Jim, >>>>> We've now had 5 days in a row of New Lows above 40... This usually occurs in a weaker rather than stronger market... This rally seems suspect even though there are positive Advancers and up Volume... New Lows have to come down and New Highs have to go up... It wouldn't surprise me if we see a last half hour market drop or a Monday drop...<<<<<<<< Yeah, noticing the same thing. My experience with the NEW HIGH/LOWs is that it is a leading indicator by several days, even weeks, but your points are very valid. Today was an relatively OK pop, but those NEW HIGHS/LOWS and other market internals are giving the hint that this rally will run out of steam next week and another decline to occur thereafter. I still think that this rally could bring the DOW back to the 9100-9200, with a slight chance of a retest of 9380, and even less of a chance for new highs for this immediate short-term ralley. Still thinking of that STAIRSTEP, althought the pullback was stronger than expected. Seeya