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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.66

+0.2%

Dec 5 4:00 PM EST

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To: James F. Hopkins who wrote (22129)	8/4/1999 8:22:00 PM
From: stockycd	Read Replies (3) of 99985

If CNBC is painting gloom and doom, it's time to buy. <g> I've been looking at the Nasdaq weekly chart tonight. The chart goes back to spring 1996. We have had 4 major corrections in the Nasdaq. Bottoming in July 96, Apr/May 97, Jan 98 and Oct 99. In each of those 4 corrections, the 50 day ema on the weekly chart was tested. Guess where the 50 dema is right now??? I've got it at about 2320. FWIW, Chris

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