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

To: Debra Orlow who wrote (4061)	1/15/1999 10:15:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Debra: I see a struggle today. I am just playing the percentages with regards to what my technicals are saying when I made my call Wed for Thursday to be a down day and yesterday for today to be an up day. Many of the Indices that I track found strong support yesterday. If these support areas do not hold, then obviously further decline will occur and more likely at a faster rate than expected. I will stay with the percentages for now and stick to the boundaries set in my update for today for the Market as measured by the IND/DJI. The Market had to turn up at or very soon after today's open to not penetrate the lower band of the long term trading envelopes and to stay above the major support areas I outline...time will! BWDIK Regards, LG

To: Debra Orlow who wrote (4061)	1/15/1999 2:30:00 PM
From: John Pitera	Read Replies (2) \| Respond to of 99985

Debra, you have been so right, the 9262-9270 area has provided nice resistance in the DJIA today. Nas just continues to creep upward. Have you notice how nicely the DJIA has rallied off of its 50 Day MA the last 2 times we have hit it. first on Dec 14-15 and then yesterday and this morning, the 50 Day MA and the very oversold condition on the 5 DAy RSI pretty much presaged today's rally. I should have gone fishing for at the money Jan calls at yesterday's close for a small play <G> John