MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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To: John Madarasz who wrote (68847)	2/9/2001 11:11:44 PM
From: JRI	Read Replies (1) of 99985

John- In reading your cycle charts....if we were to bounce Moonday for a few days....looks like we could go even to 2730 or so before hitting upper channel....what other support/resistance lines are still valid between here and there (since I expect any oversold rally won't have the pop to make it that far)....i would think 2640 (where we failed yesterday) would qualify....2596 also was a previous Fibo....as was 2526.... I'm thinking 2596 or 2640 are most likely...although today's gap could be tough too.. All this in the context of hitting some low in early March....a lot of folks I read looking for low from 2nd-9th...would fit nicely with upcoming "dead news" period; a post-options ex selloff....as well as allow the market to run a bit into March 21st Fed meetin....

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