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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: Stephen M. DeMoss who wrote (67567)	1/24/2001 2:51:50 PM
From: eichler	Read Replies (2) of 99985

Well Stephen, I ain't no guru, tho my compx calls have been pretty good. I was thinking the last Full Moon was going to bring a bottom, it did. Today, New Moon, I feel can mark a short term top. I would expect a Fib style retrace....62%.....around 2500. Noticing lots of stocks getting whacked, breaking their daily uptrend (NTAP for one). Upward progress seems to have been rather stingy this week, I think this market is set for a breather and some pull-back. Methinks the shorts are due to take the upper hand in the tug-o-war and relieve the overbought situation on the $compx before some more upside can be achieved. Regards, Eichler (possible doji for the compx today)

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