MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: Haim R. Branisteanu who wrote (18978)	7/1/1999 9:35:00 AM
From: bobby beara	Read Replies (2) of 99985

Haim, yes the vix and p/c ratios make me nervous about a mega rally here and I believe that vix chart is valid, however the vix could be headed to the July 98 support. Also, I can get a five wave count on the XCI from the breakout of the triangle, which may or may not be valid or terminal. on the bullish side the S&P Financials have appeared to negate their H&S pattern and it is hard to argue with the big volume yesterday, remember volume precedes price. We need to follow thru in the next couple of days to confirm the bull trend in place. bwdik

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