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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

-0.5%

Dec 1 4:00 PM EST

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To: Vitas who wrote (16507)	6/17/1999 12:34:00 PM
From: Bull RidaH	Read Replies (5) of 99985

Vitas, The 73 day cycle low due for Monday 6/14 looks to have nailed the bottom, and the correction is now over. The correction from 1376 to 1277 SPX fulfilled the necessary 20% requirement for a Wave 2, so now, we begin the massive wave 3 rally off the 10/8/98 bottom. As long as Monday 6/14's NYSE low of 618 holds on a closing basis, I'll maintain a long bias from this point forward, looking for a summer rally that exceeds all expectations. 6.125 had been a long time targeted reversal zone for bonds, and with that now being achieved, Long bonds should be a long term great buy as well, and will bolster the coming rally in equities. Regards, BK (no more)

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