MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 19 4:00 PM EST

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To: StockOperator who wrote (13548)	5/11/1999 2:15:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

SO, Jerry Favors has a new minimum target for the dow of 12,396. actually he thinks dow 14,000 or higher is a more likely target, to be achieved still this year. he says the current upleg should last at least until october 20, possibly longer. the main basis for this forecast are extreme readings in the 5-week RSI, the wave count, as well as the standard time spans for bull market cycles. he forecasts the maximum size of a possible correction as between 2 - 5%. all i can say is that if this turns out to be correct, we will get a blow-off top, which would be a big negative for the long term. it seems that we are getting more and more forecasts calling for some kind of extreme development as the year progresses. just as J.F. and J.Bollinger are predicting a blow-off, others are looking for a crash later this year. maybe we'll get both. if correctly anticipated, the potential for huge profits beckons. regards, hb

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