MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: Haim R. Branisteanu who wrote (60412)	10/11/2000 5:47:58 PM
From: Crimson Ghost	Read Replies (3) of 99985

I agree a turnaround may be close. But Dow and value stocks still have not broken very much; I doubt the market can bounce significantly until they come down quite a bit more. Looks like most of the NAZ damage may be done though -- at least for this phase of the bear. VIX at 31 shows some fear finally creeping in here. But VIX got to 40 last spring before the market turned. Also important to remember than in those rare waterfall declines (like 1998) the market can get much more oversold than most think possible before rebounding. I am especially negative on financials. Their bear market has barely begun.

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