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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST

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To: Stephen M. DeMoss who wrote (61893)11/5/2000 6:01:03 PM
From: Zeev Hed  Read Replies (3) of 99985
 
Steve, I think that our interpretation of capitulation differ. The last swing down was not accompanied excessive reading of despair. Some technical analysts maintain that retest of the bottom with less excessive 'despair readings' are good tests, and ready the market for a real move up. I disagree, I feel that until the last bull has thrown in the towel and keeps buying the dip, other dips to lower low will emerge, at least, once the down trend was well established, which I think it has. Notwithstanding this, short term, I stick with the scenario I gave earlier (g). It is really not too different from your current scenario.

Zeev
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