MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 675.02

+0.9%

Nov 25 4:00 PM EST

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To: HairBall who wrote (21344)	7/28/1999 11:06:00 PM
From: dennis michael patterson	of 99985

Well, gee LG, as long as you asked, here is my opinion. Very short-term, we complete the Sew 3 day bounce from oversold conditions (althought them futures are looking a little ugly tonight). I am not a professional technician, so my opinions are formed by reading others, principally Chuck Carpino, my cycles man. He says the cycles are weak into October, and has recommended going to cash, which I will complete tomorrow, having sold today and yesterday (retirement accounts, up 26 percent for the year. Not bad, but I could have done better). I think we will resume the downtrend after this fib. retracement of the selloff. Keeping my eye on resistance on the Naz (2720) and keeping my power dry. Thanks for asking!

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