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Re: Zeev Hed post# 280306

Thursday, 08/05/2004 9:03:16 PM

Thursday, August 05, 2004 9:03:16 PM

Post# of 704047
I also like this analysis from a paid site..

"I have no idea if the markets will embrace Friday's employment number, nor do I know whether next week's Fed meeting will find folks bullish or bearish. But it now seems likely that if either of those events takes the market down, it will be doing so late in the decline.

It will be late because the 30-day moving average of the A/D line will be reaching its maximum oversold reading late next week. It will be doing so because the sentiment indicators, while moving only grudgingly, are finally moving toward less bullishness. And even though the Nasdaq came within 15 points of making a lower low yesterday, the number of stocks making new lows was still almost 100 fewer than last week's peak reading.

So if the market gets whacked over the next week, based on any of these events, it should be more like a last-gasp decline than a fresh break."

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