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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: Les H who wrote (57173)	7/26/2000 1:04:24 PM
From: bobby beara	Read Replies (1) of 99985

Les, my wave read of the Dow, (which concurs with that msft count, that we are now in wave 5 down on msft) is that we had an a wave down to march, and ABC B wave that was completed a couple of sessions ago with a five wave move out of the mult-month triangle (which was wave b of B) and we are now in wave c, if wave A=C we are looking at around 8800 for the bottom. This also fits with the three drives to a top rising wedge on the Value line, each peak showing a loss of momentum and internals, i think this rally in nyse breadth from the march lows is over we are going to make a fifth wave to new lows. b

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