MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.31

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Nov 12 4:00 PM EST

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To: Road Walker who wrote (51683)	5/22/2000 6:44:00 PM
From: Zeev Hed	Read Replies (2) of 99985

Yes, I have gone on that limb. The -1276 tick (NAZ), the arms reaching 8 and toward the close going under 1, the down volume/up volume reaching a ratio of about 20 the VIX jumping to 32 plus, all before the bounce from just under 3200, indicates to me a lot of pessimism. I see a good rally here, going maybe just above 3800 (get the stumbling bulls back into euphoric mood), before we once more engage in a down leg (in a bout two weeks), but I do not expect the next down leg to go much deeper than about 3400 on the Naz. Zeev

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