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

To: HairBall who wrote (5936)	2/10/1999 7:04:00 AM
From: donald sew	Respond to of 99985

INDEX UPDATE ====================================== As discussed previously, most would agree that the momentum leaders in the current market are the INTERNUTs and many say that - as the momentum leaders so does the market. Right now the INTERNET INDEX(DOT.X) specifically just is now testing the previous trough at 456. If this support is broken to the downside than that would create a LOWER LOW. The previous peak was a LOWER HIGH, so if a LOWER LOW appears, then that would be a significant negative for the internet index and possibly the whole market. Such would imply that the TOP is in for the internuts. My understanding is that with any mania, once the top is in, the components of the mania will lose at least 50% of their value within one year, even for the good ones. Some will lose 75% of their value or more and some will lose all of their value and even go by the wayside. Many of the individual internuts have already lost 50% of their value. It is also a statistical belief that ending of a mania will precede a bear market. The question is when? seeya