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

To: donald sew who wrote (4860)	1/28/1999 7:42:00 PM
From: John Pitera	Respond to of 99985

Hi Don and All, the NASD has now done a double divergence with the new closing high today, we have had two lower highs on the Daily RSI with the past 2 price highs in the past few weeks. control.bigcharts.com This usually (about 80% of the time) should be followed by a decline down to the 50 Day MA (2180 ish). There is also something of a wedge developing in the comp and a break down of it would take us to the start of the wedge @2200. There is some small chance that we may see the rare triple divergence develop where we have a 3-4% sell off and then make one more new high. Debra Orlow and I talked about those on this thread in mid Dec. Regards, John