MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.70

+0.7%

Nov 26 4:00 PM EST

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To: John T. who wrote (56526)	7/13/2000 3:28:14 PM
From: Paul Shread	Read Replies (2) of 99985

You're right on the gap, JT. Good observation. I'm expecting a run to the 62% Fib level of 4337, based on the somewhat shaky observation <g> that we broke out of a rectangle with boundaries of 3820 and 4073, giving us a 250-point run from the breakout point. We are consolidating here after a nice run off a bull flag in the 60-minute chart, but there's no clear consolidation or reversal pattern forming yet.

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