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

To: Rick Hay who wrote (26581)	9/21/1999 5:54:00 PM
From: Matthew L. Jones	Respond to of 99985

I would be inclined to agree assuming no money comes in. If real money returns, forget about the drop (IMO). There has been a lot of money on the side waiting for opportunity, and today's sell off may be just the catalyst they are looking for. Otherwise, you may be correct. I see support for the DJIA at 10590ish; the SPX at 1305ish; the COMPX at 2700ish; and the NDX at 2360ish. Both the DJIA and the SPX tested support today and rebounded. COMPX and NDX were never even close. I predict resumption of this leg up beginning tomorrow and this leg should last for 1-2 weeks before a final leg downward ending around the first or second week of October. This final corrective leg will have heavy participation in the stocks that have previously stayed above it all. Once earnings season starts again, this market goes up through the end of January. Matt