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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: j.o. who wrote (16452)	6/8/1999 6:09:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

j.o., am i correct in assuming that if we indeed get a fifth wave down now in the SPX, that the larger picture would be for the 'correction' to be the first wave down of a new downtrend? and conversely that if no fifth wave down unfolds, the correction would count as a forth wave consolidation to be followed by a fifth wave up? let me add that both scenarios look possible to me, meaning the market will be anything but tame. the key to all this is the bond imo, which continues to sit at important support and which many expect to bounce soon. the question is whether it will bounce due to benign economic data or because of it's safe haven status. if the former is the case, the count that sees the correction as a fourth wave consolidation would probably be correct. nevertheless, today has shown that it probably pays to keep an open mind regarding the possibilities. regards, hb

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