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: eichler who wrote (62701)	11/17/2000 1:20:06 PM
From: Crimson Ghost	Read Replies (1) of 99985

I did not mean to imply the market will continue grinding down for months without a strong rally. Bear markets typically have three phases with strong rallies between each phase. Phase 1 ended last spring and was followed by a nice bounce. We are now in phase 2 and undoubtedly will get another powerful bounce when it is over. But that bounce will give way to phase 3 (the capitulation stage) That is when the Dow and the broader market probably will follow the NAZ into tankland. Bottom line -- be prepared for a nice tradeable rally lasting at least a month when phase 2 ends. But do not confuse such a rally with a new bull market.

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