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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Michael Watkins who wrote (48651)	4/29/2000 1:46:00 PM
From: James Strauss	Read Replies (1) of 99985

Each prior correction has blasted through that moving average before reversing. Again -- history may not repeat but its worth considering. Volatility extremes, valuation extremes -- there's ample reason to be suspicious of rallies at this point. Good analysis Michael... Being suspicious is good... The put/call ratio shows a lot of people bearish... That also is good from a contrarian point of view... The fact that many people are questioning the validity of this mini bounce may be the starting point for another leg up... Jim

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