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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.03

-0.1%

Dec 9 4:00 PM EST

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To: HairBall who wrote (28568)	10/6/1999 6:49:00 PM
From: Stcgg	Read Replies (2) of 99985

For Anyone Interested - An Elliot Wave Update.. Either today, or the next day or two should be a Wave 4 top in a new bear market.. Dow resistance 10572-10612, it cannot exceed 10733 for this to hold true.. Wave 5 down is validated with a push below 10184 on the way to Dow 9810-9873, minimum.. This rise shows waning breadth and zig-zag structure, common to corrective patterns, rather than an impulse wave, validating a Wave 4 rise in the downtrend.. A-D was 4:1 declines over advances, also supportive to a Wave 4 structure.. S&P futures must not pass 1354.50.. Look for validation of Wave 5 down with a break below 1282.00.. Naz should reach new hi's (we're within 40 pts now) over the next day or 2, upward target in the futures of 2607.80... QQQ's 130 1/2.. A decline below 117 1/4 in the Q's validates the next Wave 5 decline.. Bonds should be bottoming here to 111.20 in a Wave 5 decline, should they break below this level, look for 105-107.. Gold is in a Wave 4 correction in a new bull market, the next day or 2 should see the beginning of the completion of this impulse wave, then upward on Wave 5.. >><<

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