MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

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Dec 26 4:00 PM EST

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To: bobby beara who wrote (71668)	3/10/2001 1:20:41 PM
From: Zeev Hed	of 99985

Yes, I agree that tax selling "skewed" the numbers (and thus also the paucity in negative tics early in the year with heavy rebuying of tax loss targets). By the way, ^XAU achieved my target around 57 or so, I think we are in the last throws of that gold move, and a retrenchment could be precipitated by a counter trend tech rally. Gold itself, will not go much above the 270 area, (I have $274 as the glass ceiling), so that move might be over. I am no longer bullish on gold and the XAU (as I was just two three weeks ago). We might have another gold rush once the tech turn over again by mid April. Zeev

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