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Post# of 704019
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Zeev Hed

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Zeev Hed

Re: madrose1 post# 533664

Saturday, 02/10/2007 11:02:25 AM

Saturday, February 10, 2007 11:02:25 AM

Post# of 704019
Good comment, but, watch the $BPCOMPX closing near 60%, a two years high, that is a positive divergence and the likelihood of 2500 taken out for good soon. $BPNDX made the high in December, but has not deteriorated enough to indicate internal problems either. Same minimal divergence in the SPX and OEX series (the generals a little weaker that the troops, but no dangerous deterioration). Jim had Feb 5 as a change of direction point, but I am not sure if Friday relapse was not simply a healthy minimal retrench which will be followed by another dip buying period. I am still positive on the market for now, as long as 2390 on the Naz holds in a retrench.

AZH

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