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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: HairBall who wrote (8596)	3/21/1999 8:31:00 PM
From: Bull RidaH	Read Replies (1) of 99985

LG, OK..OK...You've driven me out of my cave...Woken me from my nap. And you know how angry bears are when they are rustled in their sleep!! <g> Thus, I'm gonna have to call for a 20%+ correction in the next 2 weeks!! That'll teach you! :^p My key weekly cycle indicators are calling for a significant top between last Wednesday and this coming Tuesday. I believe friday's open was it. Confirmation of a plunge will be if this Monday's low is taken out at anytime during the next 10 calendar days, as i have a 26 day cycle low due on Monday. My favorite wave read says Friday's opening high was the conclusion of 5 waves up from the October 8th low, thus completing primary wave 1 of cycle wave 1 in this new Supercycle. The downswipe on friday was the beginning of an ABC corrective Primary wave 2, which will take roughly 3.5 months to complete, and will level the markets by 15 to 25%. But October's low has absolutely NO chance of being penetrated. Friday's candlestick on index futures charts resulted in a "dark cloud cover" that morphed into a "bearish engulfing" pattern. This is the most bearish of any possible candlestick formation, and not your typical "bearish engulfing" pattern. The reason is because prices gapped above the high on Thursday, which was a LONG day, and then closed below Thursday's open. This makes it the strongest version of a "dark cloud cover" possible. A normal "dark cloud cover" formation signals lights out, party is over. This one signaled all that plus razed the building to leave no evidence! <g> David P.S. More warm porridge: Message 8441522

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