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Certainly we are at tough resistance here and need correction or more
sideways to move higher and 1050 basis Dec should offer support. However, I
don't see your bearish divergence McOsc on either NYSE (230 on 9/23 vs 254
on 10/20) or NASDAQ (238 vs 308). I also show Summation confirming on short
term basis although it shows major divergence vs previous all-time highs.
Earl
-----Original Message-----
From: Proffittak@xxxxxxx <Proffittak@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, October 26, 1998 6:27 AM
Subject: mkt outlook
>good morning
>
>this week I anticipate aprox 400-600dow poits loss by fri
>
>McCullen osl is showing now a berish divergence,
>new hi new low only got above water for 2 days
>most short term indicators are STILL overbought (even after fri decline)
>
>probable bottom@xxxxxxxxx
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