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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: j.o. who wrote (16452)	6/8/1999 6:09:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

j.o., am i correct in assuming that if we indeed get a fifth wave down now in the SPX, that the larger picture would be for the 'correction' to be the first wave down of a new downtrend? and conversely that if no fifth wave down unfolds, the correction would count as a forth wave consolidation to be followed by a fifth wave up? let me add that both scenarios look possible to me, meaning the market will be anything but tame. the key to all this is the bond imo, which continues to sit at important support and which many expect to bounce soon. the question is whether it will bounce due to benign economic data or because of it's safe haven status. if the former is the case, the count that sees the correction as a fourth wave consolidation would probably be correct. nevertheless, today has shown that it probably pays to keep an open mind regarding the possibilities. regards, hb

To: j.o. who wrote (16452)	6/8/1999 7:48:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

j.o. and ALL: My charts are up early tonight. I took down the P&F Chart as it is not really my area. I made the combination weekly chart of the NYA-COMPX Composite, TYX and XAU a regular. I also put up the QChart charts on the DOT and CMGI again tonight, so folks could see how the resistance lines I pointed out yesterday, held. If you are interested in viewing my charts, you can find them on my chart page on the MDA Web Site at: homestead.com j.o.: I am now more inclined to see how the various Indices formation's controlling trend lines hold up, before I get specific...I am waning on how strong this pullback will be. What is your downside target via the EWave voodoo...<g> Regards, LG