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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

Nov 13 4:00 PM EST

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To: pater tenebrarum who wrote (18033)	6/21/1999 11:02:00 AM
From: j.o.	Read Replies (1) of 99985

Heinz - it's interesting to watch the bonds performance in light of the completed 5-wave scenario. We would now expect at least a .382 retracement of the entire upmove from 4.75 to 6.125 in the TYX. That gives me a target of 5.58%, with the 50% retracement being 5.41%. Obviously this will take time. In the meantime, for the first retracement of the fifth wave (.382), we need to see 5.87. 50% is at 5.78%. These are likely to provide interim support, and coincide with the congestion levels from which we staged the subwave-5 upmove. I would be interested to hear your thoughts. The bonds have been moving like an elliot-waver's dream, and I would expect this to continue. j.o.

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