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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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4:00 PM EST

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To: John Madarasz who wrote (52407)	5/27/2000 7:10:00 PM
From: Stephen	Read Replies (1) of 99985

John, interesting piece ... but I tend to subscribe to one of the theories put forward over time on this thread ... I think initially by Don Sew. That is that the market is somewhat like a rubber band ... the degree to which it is stretched one way, dictates how far it will come back in the opposite direction. Further, like all rubber bands, it will actually overshoot. Now that the trend has reversed, the 'snapback' must be fulfilled before it reverses. All this within the frame of the relative trend period of course.... Friday was a BIG distribution day ..... Stephen

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