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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

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Nov 21 4:00 PM EST

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To: James F. Hopkins who wrote (17669)	6/17/1999 9:12:00 AM
From: pater tenebrarum	Read Replies (5) of 99985

Jim, i believe now that the real bull trap is still ahead of us, either at the end of june or some time in july, with marginal new highs in the indexes and strong breadth seeming to confirm the move. new highs will be taken by the bulls as an 'all clear' signal and the complacency already evident now will likely go to extremes not seen in a long time. currently the investment advisors are too bullish, but there is a countervailing read on AAII and futures advisors polls. we need those to get back to high bullish readings as well, then the market will be set up for a BK type event. i believe that such an event is very likely this year, i'm only unsure as to the timing. all i know is when BK's come, nobody sees them coming. regards, hb

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