MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: Stcgg who wrote (67074)	1/18/2001 1:26:39 AM
From: Gary Burton	Read Replies (1) of 99985

Stcgg---jury is out as to whether or not Naz needs another low--One thought I have is that from the Low, we have ended 3 and are now in 4 with a 5 to come-topping next week---of a Leading Diagonal--which is only seen in the Wave I (orA) position---In contrast to an Ending Diagonal (series of 3's forming a wedge), each upwave in the LD wedge is 5 wave impulse AND the volume expands as you go up the LD--this is what is the case here so far---bottom line--I anticipate a retrace next 1-2 days to low 2500's to finish 4 and then a surge to 2850-2900 by late next week to finish the LD for Wave I or A--my 2c

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