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

To: SE who wrote (979)	12/9/1998 9:01:00 AM
From: SE	Read Replies (2) \| Respond to of 99985

I am going to hedge here a little, mainly because some posters and other material I have read and I trust are calling for a larger move....(yes, you Patrick, amongst others! :) ). Although my work shows lower prices to come, it is possible that we have one last explosive up-side rally prior to this. Perhaps the last month's consolidation and move from 1195 to 1150 was enough to work off most of the bearish divergences that I see and provide for a short term boost upward. Further, it is possible that the negative TICK and PREM yesterday, while not accompanied by a -28/-30 TIKI was enough to indicate a short term bottom. The TIKI was -26 and given that the DOW is lagging, perhaps that indicated a short term bottom. In any event, I will be looking for lower, but am not ready to short quite yet. Let's see what develops and then take it as it comes. A big, as always, whether stated or not, BWDIK! -Scott