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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

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To: Crimson Ghost who wrote (78987)	6/19/2001 3:27:23 PM
From: eichler	Read Replies (2) of 99985

George, Yes, I made an indelible mental note of Zeev's target too. The fact that fib retrace and notable gap are in that area makes it a powerful magnet in my mind. I would actually like to see the full 62% retrace come to fruition and the 4/4 low hold and start a fresh rally giving a W bottom appearance as I think that would spark a more powerful and longer lasting rally. That would provide profit opportunities aplenty for me! GGG Even so, I'll be patient and make sure I don't get sucked in if the ship is really sinking. An argument can be made for lower lows to come. Will just have to see how the charts shape up in the meantime. I'm hoping the weekly compx chart can unwind it's overbought look and drift on down to oversold again. From there, some real power can be unlocked. Just have to wait and see. Reading Alan Farley's Master Swing Trader is giving me the impetus I needed not to feel obligated to be in the market all the time. Really feels right to pick and choose better profit opportunities. Best regards, Eichler

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