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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: Stcgg who wrote (65976)	1/5/2001 12:23:08 PM
From: HairBall	Read Replies (4) of 99985

Stcgg: A break of Dow 10581 or Naz 2252 confirms the next leg down in the bear has begun.. Hhhmmm, 10581...approximately Wednesday's INDU low, 2252...approximately Wednesday's COMPX low. A slight break of those numbers could simple be a retest. Frankly I don't expect it, but I've been wrong before. The INDU is trading in an intraday rising trading channel off the 12/21 low. It tagged the support line and repelled. The NYA did the same a little above its support line for the same period. NAZ Indices pivoting between the Gann 50% retrace and the Fib 61.8% retrace points off the 1/3-4 move. The SPX has pivoted almost exactly at the Fib retrace level of 61.8% of the same 1/3-4 move. This is a digestion of the news/event move. This movement in one direction at first blush of an news/event and then an opposite move after is what I call a "big boy" two pocket picking moves for the price of one...<g> Greg...how's that for Fibs...<g> To find out what is really going to happen, I have a call into my 1-800 dial a piss poor fake Jamaican accented tarot card reader...<g> (I'll get back to you once she let's me know.) Remember what that wise investment sage said as of late: I THINK IT'S ONLY PRUDENT TO BE CAUTIOUS IN THIS MARKET ... VOLATILITY REMAINS ON THE MENU...<g> Regards, LG PS: If I am wrong....never mind!

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