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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 2 4:00 PM EST

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To: dennis michael patterson who wrote (21913)	8/3/1999 5:21:00 PM
From: pater tenebrarum	Read Replies (3) of 99985

Dennis, yes, Favors calls for a short term bottom on August 2 (+/-one day), and mentioned a low for the Dow of 10,616, which is exactly the low that has held so far. however, i must say that in spite of the excellent calls he made so far this year i find it hard to believe that we have seen the end of the correction. i am still waiting for a high volume down day - something we haven't seen in ages it seems. note also that the early july rally was on low volume and that market internals continue to deteriorate, all of which argues for a shakeout. regards, hb

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