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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.40-1.1%Dec 17 4:00 PM EST

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To: The Freep who wrote (78562)6/13/2001 12:51:05 AM
From: t2  Read Replies (1) of 99985
 
Freep, I am always setting myself up .<g>

It was a mistake to try and work out very short term targets; a broader move up or down takes longer. Only a momentum market can move fast but we don't appear to be in one.

That is why I am giving myself til July--around when earnings are out.

My basis for these moves are the same as before.

Do you notice how fashionable it is to be bearish these days? That is just another sign.
Only if I see a big decline in short interest will I consider the possibility that we are in a bear market rally, implying retests of lows. Short interest has stayed very highs, levels I have not seen in the past few years.
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