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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: Lee Lichterman III who wrote (32007)	10/31/1999 8:35:00 PM
From: Gary Burton	Read Replies (1) of 99985

I am thinking 2-3 weeks max because of the sharpness of the Thursday/Fri rally. It looks like it doesn't want to waste any time, so momentum will likely take hold in a run for the roses. The important number will be the Nov 5 employment data. If not as shocking as some are thinking (eg SSB is at 550,000 new jobs due to overhang from hurricane), it would likely fuel a furthur surge and may be enough to get us to the 11500ish area shortly therafter... I don't think anyone now cares about +1/4 on Nov17.... My trading software (Advanced GET) is targeting around Nov 11 based on momentum and a potential key stop and reverse test in the area of 11500-11750. Somehow, if we are going to make it, I don't think we're going to meander this time.---We could of course complete 5 waves up by Nov4 and find that the employment data are so strong that we turn back down and gear up for a retest of 9975 after that....I'm not too optimistic we're going to do anything good after mid Novemebr as Y2K fears may then take hold into the first week of Jan----So maybe THIS is the Santa rally without snow.

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