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

To: donald sew who wrote (20544)	7/20/1999 11:49:00 AM
From: investsformoney	Read Replies (1) \| Respond to of 99985

Support is available for naz in the 2740-2750 area. What is whipsaw time?.

To: donald sew who wrote (20544)	7/20/1999 11:59:00 AM
From: still learning	Read Replies (1) \| Respond to of 99985

Don, sorry to be such a novice, but could you briefly explain the diff between class 1 and class 2 buy/sell signals? TIA

To: donald sew who wrote (20544)	7/20/1999 12:50:00 PM
From: j.o.	Respond to of 99985

Wow - interesting to see your signals changing so quickly. But the markets need to hold here for other reasons as well. I just looked at the dot.x, and in terms of wave count we're in make-or-break territory here. Looking at the daily chart, we are beginning to run into the highs of wave 1. If we were to close below the 600 level, it would be hard to justify further expectations for the expected 5th subwave to the upside. We're also of course now back below the 50-d EMA, which is also a strong negative if we remain below. Nasdaq is a different picture - due to the huge runup, even a 38.2% retracement (June lows to recent highs) would lead us down to 2675 or thereabouts. We may stop short, but another 75 points of downside would be no surprise there. Time for rotation? <gggg> This market rotates like a carnival ride! j.o.