MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: donald sew who wrote (7099)	3/1/1999 6:21:00 AM
From: Arik T.G.	Read Replies (1) of 99985

>>The INTEREST RATE action was interesting today. The economic news favored further increase in the rates, but the rates pulled back significantly. The Fed is in a big catch here. Higher rates will open a big interest rates gap between USD and the EURO. That could lead to an even stronger Dollar (>1 EURO) and worse trade balance. OTOH there's the tightening labor market (which could have spelled wage pressures and inflation for over a year but hasn't) and the ever surprising GDP figures. How cautious is Greenspan? >>It was really interesting how the DOW sold off about 50 points in the last 5 minutes of the day. Wonder if the futures also sold off? Yes, from 1246 to 1239 and after the close from 1240 to 1235. >> Its interesting that you feel if the SPX trades over 1253 we will head up strong. Is that based on a wave structure. Yes. Here's what I saw Wednesday before the open (2/24) exchange2000.com <quote> .......Minute 1 - 10/8/98 to 11/27 Duration = 35 trading days ; Gain = 269 SPX points. .......Minute 2 - 11/27 to 12/14 .......Minute 3 - 12/14 to 1/8 Duration = 17 trading days ; Gain = 141 SPX points. .......Minute 4 - 1/8 to 2/10 .......Minute 5 - 2/10 to present. Duration Should be 7-9 days to have the same ratio as 3 had to 1 (but it is already 8 days old); Gain should be 74 SPX points (top at 1286) to copy the ratio of wave 3 to wave 1. <end quote> That was the ending diagonal count. The next day the SPX reached a very marginal new high (half a point intraday higher) and sold off. On that post I mistakenly considered the Minute 5 to be an impulse (5 waver). Actually it breaks down like this A - 2/10 open to 2/11 close (has a clear intraday 5 count within). B - 2/12 open to 2/18 morning C - 2/18 morning to 2/24 afternoon. The alternate count (which looks less viable by the day) is exchange2000.com It will get a big reinforcement if we trade over SPX 1253 To summarise : The up move from 10/8 ended for the SPX on 2/24 (On the NDX it already ended 2/1) The NDX big caps are pulling the market lower. The sideways action of the last day and a half suggests more downside. ATG

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next