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

To: HairBall who wrote (3546)	1/9/1999 11:10:00 AM
From: Daflye	Read Replies (1) \| Respond to of 99985

A little more food for thought. Aside from being overbought, put/call ratio around .49, Nasdaq volume greater than 10/8, AjC lowering(slightly) equity allocation, and two (?) fed govs publicly saying that valuations were way out of line with earnings. Uncle Al speaks Jan 20. Though the July 17 was the last top, the real decline didn't kick in till Greenie spoke July 21, when the "blow off top" seemed to occur. NDX opened strong, peaked around 1480, and dropped. If there is to be a pullback of say 5% or so, I bet Jan 20th is the trigger date. D