MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: Stcgg who wrote (51030)	5/16/2000 8:39:00 PM
From: dennis michael patterson	Read Replies (1) of 99985

We are overbought, it's true. And the spectre of rising rates is daunting. But I plan to buy this next pullback. I look for consolidation into the 25th. And then I believe we will get a great summer rally. I base this on my reading of the work of others for cycles and breaks of trendlines. I still think caution is warranted. But I think the pain of the last 8 weeks will come to an end, and soon. I regard this as somewhere between an analytic take (sans data and charts) and a gut feel. As for the latter, I have many of them, but usually only in response to the call for dinner. <ggg>

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