MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 677.58

+0.3%

Nov 5 4:00 PM EST

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To: t2 who wrote (76932)	5/13/2001 8:18:05 PM
From: Robert New	Read Replies (1) of 99985

"Double top on the VIX? Are you referring to the early April top?" Actually I just posted that as a contrairian view to what someone termed a coiled spring. As Eichler mentioned...many conclusions can be drawn based on an interpretation of a chart. I only use the VIX as simply one indicator and have been successful buying long when the VIX prints 30 or better everything else held constant. Regarding the light volume selloff I am of the school of thought that the economy will bottom sometime in Q4 01 to Q1 02 and think this selloff on light volume is quite constructive. I do see possible downside to the 1950-2000 level and then a strong move back up from there. That would put in a nice "double bottom higher low" formation. Time will tell as always...

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