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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

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To: eichler who wrote (64217)	12/13/2000 10:00:31 PM
From: bobby beara	Read Replies (1) of 99985

The market's lack of follow-thru on Tuesday had me on full alert. >>>> ya, e a truly oversold market should have been able to mount the 3000 level and turn it back into support, the bullz failed to take control, as they did off the may low. there has been a lot of confusion for me where to start this ending diagonal on nasdaq, did it start on 10/20 or 11/3? but dell has a count that i think is pretty clean and thats why i think the nas is headed at least for a marginal new low before an trend change can happen. from the early november high on dell i believe you got wave 3 into the low last friday and a countertrend rally into that H&S top, just like nas and now i think we are in a final wave 5 down from the election rally on dell 207.61.23.99 i think the level of bullishness in rydex that showed up this week needs more than a couple of down days to be worked off, bwdik b

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