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

To: Les H who wrote (8788)	3/23/1999 10:35:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

INDEX UPDATE ============================ Just finished some calculations, and surprisingly, when the DOW was down to 9775, I got a weak CLASS 2 BUY signal, for the DOW,SPX,OEX,NAZ. The RUT is now at a CLASS 1 BUY signal, but due to its weakness it probably wont move upwards until the other major indexes do. If these indexes closes near their intraday lows that would confirm the weak CLASS 2 BUY signal, and the BUY-IN would be at tomorrow's lows. Of course they could go lower tomorrow and morph into CLASS 1 BUY SIGNAL with the BUY-IN at THUR's LOWs. So the big question then is how big will the bounce be, and for now I dont think the rebound will be that strong and could possibly form a stairstep, zig-zagging into early April. Seeya This does not mean it cannot go lower, but implies that the downside for this specific short-term downswing should be limited.