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

To: Berney who wrote (23657)	8/23/1999 10:19:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

timely.com Hi Berney, I did notice something this weekend (in the bullish camp) but I neglected to post it because i was so pissed at myself for not recognizing the pullback as a buying opportunity in an uptrend, not a top. It seems the bears got just as out of hand at the 8/11 bottom as the bulls did at the 7/16 top. There were a lot of similarities to the chart patterns from last year, but the difference is that most analysts were calling for a bottom in early August last year and i think most were bearish this year. We have a failed bearish pattern here which is dynomite in the opposite way. The real problem is that if this is a failed Larry, Moe and Curly top, is that we will likely have to go to the next level the Harpo, Chico and Groucho top. You want to be very short at Groucho tops -=gggggg= The chart that i meant to post this weekend was the oex line in the sand chart with the oex coming back up thru the line in the sand and making back into support on the pullback late last week, then the bounce off that on Friday. The nasdaq chart i posted there shows and nice inverted h&S pattern with the bulls taking control with a nice big white candle across the neckline after a morning gap. This shows up on the spx & oex 60 mins also. The bulls have wrestled control away from the bears, the only chance the bears have is if AG raises .50, which is slim and none in my bookie's book --ggg- bb