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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.63

+0.4%

Nov 19 4:00 PM EST

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To: Temple Williams who wrote (63622)	12/3/2000 2:57:45 PM
From: Gary Burton	Read Replies (2) of 99985

Prechter's group--Dec 1---fwiw---naz could fall another 50% before the immediate onslaught is over---yield on long bond going a bit lower near term but will bottom soon and then start a long rise (above 6.75)---US$ has topped out---"regardless of extent, every mania is followed by a decline that ends below the the starting point of the advance.A conservative starting point for the Nasdaq mania is the Oct 98 ot 1357"---near term--fib support on the naz is at 2540 on %basis and 2165-2300 on a points basis-either could offer a brief respite---fib turn dates are Dec1-4 and Dec11-12...'these turn windows are unusually close together.If the first one marks a low, the second one should mark the high of a sharp rally,If the market ignores the first date, look for a near term low on the second one'...9mth cycle is ideally scheduled to bottom in the mid Dec-early Jan period-----longer term, the major stock market low is in 2002/04 area

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