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

To: ALTERN8 who wrote (3258)	1/4/1999 3:39:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

INDEX UPDATE ----------------------------------- ITS WHIPSAW TIME gggggggggggggg The DOW was up strong in the morning with the high near 9350, and we just had a 200 point selloff in a matter or hours. Boy is this market moving fast. As previously indicated there is strong resistance at 9400 and we only got about 50 points from that figure. I checked my short-term technicals and prior to today they were in the mid to upper mid-range, with the NAZ in the overbought region. However this may mess up my timing which was calling for the top to occur later this week/next Monday. Per my short-term technicals I actually got a weak CLASS 2 BUY signal on the DOW when it hit 9125. Please keep in mind that it can go lower and that BUY SIGNAL is for tomorrow if the DOW closes at its lows. I would not initiate PUTs right now. I need to get all my data updated, since this market is moving extremely fast. Seeya