MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

4:00 PM EST

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To: bobby beara who wrote (16370)	6/8/1999 9:13:00 AM
From: pater tenebrarum	Read Replies (1) of 99985

Bobby, one more thing regarding the wave count: it is possible that a wave five has started, but by no means assured. at this point i would look for a consolidation prior to more gains, and if i understand wave theory correctly, it is the way this consolidation unfolds that will tell us where we are. if we see an a-b-c correction, the fifth wave can be assumed to be in progress. a five wave decline would indicate the start of a larger third wave down. in view of the recent developments sentiment-wise i lean more toward the a-b-c/fifth wave scenario at the moment, which would jibe nicely with the tall-building indicator timing. regards, hb

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