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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 686.96

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To: William H Huebl who wrote (210)	12/3/1998 7:41:00 PM
From: Moominoid	Read Replies (2) of 99985

I see no major sell-off at this point! If one is to come, it will be after the right shoulder is formed in the middle of Dec this year. Exactly my thoughts or I'm even thinking longer to come down. Maybe even a few months. I'm still thinking Dow=6000 is what is justified by fundamentals and that eventually the market will return to fundamentals. ie expectations will eventually return to reality vis a vis 99 earnings and some of the "reflexivity phenomena" built into prices will gradually get blown out. David

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