MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: bobby beara who wrote (80030)	7/11/2001 10:59:26 PM
From: ajtj99	Read Replies (1) of 99985

Bobby, I think it could be a .382 re-trace of the drop from 2328, which is also a .50 re-trace of the drop from 2264, and is also a .618 re-trace of the recent drop from 2181. That is around 2088. We could go as high near 2150 and stay below the upper band of the falling trendline, but 2137 or so seems to be the most logical upper limit (a .786 from 2181, .618 from 2264, and .50 from 2328). I just don't see us breaking through the downtrendline this soon, Bobby. Too many things lining up to discount. Options expiration is next week also.

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