MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.31

0.0%

Nov 12 4:00 PM EST

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To: eichler who wrote (62567)	11/16/2000 10:00:38 AM
From: eichler	Read Replies (2) of 99985

I am watching the 60 min chart eyeing the possible formation of a head and shoulders pattern. I'm anticipating a 62% fib retrace from Mon low to Tue high which would take the Naz down to the 3000 level and should fill that pesky gap from Mon/Tues. If this level doesn't hold, a full retest is likely and lower low possible. Picked up some NEM yesterday anticipating a spike (60 min chart perked up into the close yesterday). Been watching NEM since Bobby Beara mentioned this one recently. Uh, I know....gold suks! Not looking for a big gain, just something constructive to do while the compx looks week and likely to fall. Got stop at breakeven. Good Luck All. Regards, Eichler

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