MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

4:00 PM EST

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To: Casaubon who wrote (47658)	4/22/2000 9:18:00 AM
From: Terry Whitman	Read Replies (2) of 99985

Nice work Caus. You can see a pattern on the tops. 3 springtime tops followed by a winter top, followed by 3 autumn tops. You missed one however, the latest winter top. Is that because there was no washout prior to it? Biotechs certainly led the Nasdaq down this time. Will they lead on the way up? I'd be careful picking a bottom here. They have bounced back up to the 50 day ma twice in this short and steep downtrend- siliconinvestor.com Which could easily happen again. The weekly chart looks like death however. Your stats including the % rise would show that the last rise went far higher than all the rest- hence there is more downside risk. I would be a BTK seller at a bounce back and roll over near the 50 day ma. siliconinvestor.com Have a great holiday everyone, TW

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