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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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To: Vitas who wrote (14670)	5/23/1999 1:03:00 AM
From: bobby beara	Read Replies (2) of 99985

Vitas, I had thought originally wmt had completed a wave 3 on the 4/13, however now after looking at the chart, i believe you can give wmt the same count as that janus twenty chart with impulse tops in late nov, late jan and mid april, with a buying climax in coincident with the nutz in mid april. This is another h&s formation candidate. the ones that developed last jan - feb failed and made another leg up, I doubt these will. I had been following ATI recently and it was on my prospect list, but never bit (instead I bit something that went the wrong way -g-) I could make a case that we are in a five now and possibly we had a buying climax last week when we got the gravestone doji. On 4/13 there was record volume on the nasdaq and nyse accompanied by small bars on both the nasdaq and spx, followed by more record volume days on the downside in the following days. I think a lot of stocks found buying climaxes there. bb

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