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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: pater tenebrarum who wrote (19213)	7/2/1999 2:35:00 PM
From: bobby beara	Read Replies (1) of 99985

Heinz, i believe we are in wave 5 of 5 right now, the spx may want to go up and make the bottom of my rising wedge as resistance, which would give some more to go, however that should be an exhaustion move and we should reverse hard off that if my theory is right. I'm looking at the nice 6 month base on the XCI, but compare that to the base it came out of in october, basically similar structures though look at the p/c ratios and sentiment as we were making the final bottom in October (or out of the base in Jan 98), versus the bottom in late May, no comparison, this is a bull trap. bb

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