MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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Nov 10 4:00 PM EST

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To: Michael Watkins who wrote (39984)	2/12/2000 2:19:00 PM
From: bobby beara	Read Replies (1) of 99985

Michael Watkins there also some cyclic issues that could call for a nas top here. the rally from the october 8th, 98 low topped out on feb 1st after a double zig/zaq correction in January. If we carry this similar time frame to the current time frame and comparative january zig/zag, top should be in the February 11th to February 14th time frame. there is also a fibonacci 377 day turning point in this time frame. People should be cautious as always taking bearish sentiment as a contrary indicator, it doesn't always work, there was plenty of bearish sentiment right off the july 98 top and also the july 99 top. b

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