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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.08-0.8%Nov 18 4:00 PM EST
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To: bobby beara who wrote (73608)3/29/2001 10:54:18 PM
From: Temple Williams  Read Replies (1) of 99985
 
Both my Preferred Series and the Alternate continue along similar tracks. But the series differ enormously in the near future. The Preferred (most likely) Series takes a stab at 1250.00 Spoos around the middle of April and then resumes searching for its bottom (allegory at its worst). It should find the basement in the first week of May, below 1050.00 Spoos. A 200-handle trading range that could be a thing of beauty for traders who get it right. Here's my current 50-min bars chart (projects 5+ weeks out) for this series: sellnow.net

The Alternate (next most likely) Series already knows its ... er ... bottom from its elbow. It discovered its bottom last Thursday and is now in the process of ramping up for a move to higher prices. In the short-term, it will stab higher to 1180.00 Spoos. Then it immediately shakes the bulls out of the tree with a hard drop to 1135.00 Spoos early next week. That gets a lot of happy bears shorter, and shorter, and shorter, and ... ... and then it pushes strongly higher into the middle of April. Back above 1400.00 Spoos by the end of June (but not before the June contract expires). Here's my current 50-min bars chart for this series: sellnow.net
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