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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: SE who wrote (1755)	12/15/1998 12:35:00 PM
From: Bull RidaH	Read Replies (1) of 99985

Scott, >>Where do we bounce from here?<< I covered the answer to that question last Friday in this post (3rd paragraph)https://www.siliconinvestor.com/readmsg.aspx?msgid=6785453. I don't have anything much to add to that at this time, except that 1150SPX can be considered as resistance, and the market is trying to fight back up through it now. The 50% & 61.8% retracement levels on the SPX (1165-1170) remain as the most likely bounce targets, but i don't have a pattern i can use to project the bounce, so it's much like feeling in the dark. The really important thing to key in on is what happens after this bounce ends (Weds or Thurs), and that is a steep decline for the following 5 or 6 trading days after this corrective rebound ends. Regards, David

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