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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: Crimson Ghost who wrote (71649)	3/10/2001 8:59:24 AM
From: Zeev Hed	Read Replies (3) of 99985

George, yes, that is what the turnips see right now, I doubt that even two consecutive lower lows on Monday and Tuesday will bring us there. That is why I have only a relief rally to mid April or so and then a resumption of the bear market. Mind you, unless we breach 1900 on a closing basis, I do not see the next few bottoms being much worse than yesterday's bottom. I still have that 1900 as the bottom of the long term range and will move it to the next Maginot line (at 1400) on a breach. By the way, that 1400 is the same level that Don Hays had last April as the target for the 2000 bear market, we may eventually reach it, IMTO, in 2002/2003. The decline from the April high, will however be as painful to longs as the recent February Massacre (I would say that a 30% decline in the naz from Jan 31st to yesterday should qualify as a "massacre" <g>). By the way, I have some strange readings indicating that the next decline will be worse for the Dow than for the Naz (not so much percentage wise, but in breaching recent support). Zeev Zeev

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