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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

4:00 PM EST

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To: bobby beara who wrote (14787)	5/24/1999 4:47:00 PM
From: j.o.	Read Replies (2) of 99985

Yes - it does indeed! It's interesting to reflect on that count and consider what it means for the big picture. From the '94 lows we have had 5 waves up. We touched the necessary upside target in the SP500 (1367 or thereabouts) for wave 5 (up from October last year). That made wave 5 as long as wave 1, in percentage terms. Given my old count for this super-wave 5, it seemed as though we needed to move much further to the upside in order to complete the 5 waves within the Super-wave 5. I must now consider whether last 5-subwave upmove which you described might indeed be wave 5 of the super-wave 5 which began in October. I have to work more on this theory and test it across other markets, but it is possible. If it's the case, then we will now begin at least a corrective A-B-C of the entire upmove from 94, if not a 5-wave downward move and total trend reversal. No particular reason to believe this - but it should be considered, I think. Look forward to the "chicken". Thanks for the great posts. j.o.

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