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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 675.02

+0.9%

Nov 25 4:00 PM EST

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To: KM who wrote (14936)	5/25/1999 10:20:00 PM
From: bobby beara	Read Replies (1) of 99985

KM, while your hanging on every word -gggg- i want to repost this chart. bway.net the one thing i left off that i regret is that besides GE - THEE BLUE CHIP MSFT - THE TECH BLUE CHIP not confirming the latest highs . . Merrill Lynch THE FINANCIAL BLUE CHIP did not make a new high and confirm the new highs in the xbd or the major averages. BTW Merrill's book value is 7x Schwab's the "new era" blue chip. That given, i believe we are in an area of support (along with my wave read we got 6-2 negative nyse breadth which is fairly climactic) and believe we should consolidate this down move for the rest of the week before wave 5 down. It wouldn't surprise me if we got a real blast down after the holiday with a 9-1 negative breadth day that would give us a decent rally into mid June. Remember these magazine covers and what they meant to the market. Married to the Bull - spring 98 The Crash of 99 - Fall 98 The Smarter Bull - Spring 99 bb

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