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

To: Kerry Phineas who wrote (17550)	6/16/1999 11:05:00 AM
From: Arik T.G.	Respond to of 99985

In Elliott Wave Theory each market movement WITH the trend is divided into 5 subwaves - 3 impulse waves (with the trend), marked 1,3 and 5, and two corrective waves marked 2 and 4. Since the Inuts at least medium term trend is apparently down, the EWT technicians are looking for 3 down moves- 1,3,5 - separated by two corrections up - the 2 and the 4. Now read my post again. ATG

To: Kerry Phineas who wrote (17550)	6/16/1999 11:34:00 AM
From: Arik T.G.	Read Replies (2) \| Respond to of 99985

Kerry, Usually the 4 should not overlap the 1. Look at AOL chart: The first drop from the top bottomed at 111. If the L.T. trend is down, then this price should not be surpassed in the current up correction. If you believe that the sector is still in a down trend, then you should try to short AOL as close to 111 as possible. Same for CMGI at 92 1/2, and it just weakened from 89 1/2 to 88. OTOH overlapping the lows of the 1 could mean that the whole drop from the top was just a correction (that was already over) in a bigger up trend. ATG