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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 (14852)5/25/1999 9:37:00 AM
From: j.o.  Read Replies (1) of 99985
 
Some repeated dates there...I suspect I know what you mean. I see Wave 1 ->early 96, 2 sideways into mid-96, BIG 3 from Aug 96-> July 98, 4 sharply down into October 98, and then the recent 5-subwaves within big wave 5 from October 98 -> now.

If that's the case, we should now expect a 38.2% (minimum) retracement of the entire upmove. Eyeballing this on the Dow, I would put the expected target at roughly 8200.

I am going to try and see how well this pattern fits other charts today. More later.

Thanks,

j.o.
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