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

To: Vitas who wrote (26647)	9/22/1999 10:01:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Vitowski, decisionpoint.com If we can use the complex bottoming formation and buy spike analogy for the oscillator, let's use it for the summation. We had a complex bottom, with the head last fall, a buy spike in early march, but since last fall was not a real bear market, did not wash out speculation, in fact it encouraged speculation to ratchet up to an even greater degree, the summation stalled and reversed off resistance, creating a failed pattern. A true bear market washout should have cleaned out all the excess and sent out a broad advance of stocks, sending the summation for an initial breadth thrust up to 4-5000. Now I believe last fall was the left shoulder of a complex bottom and we are going to take last falls low, which will clean out excess that was created by the govt. engineered election politics bottom. I thought it interesting on last week's rukeyser show Louis the NON-technician pulled out sentiment figures at tops and bottoms over the last twenty-five years and used last weeks figures to show how many bulls had disapeared, the joker even had the audacity to flim flam the public and say that the 87 top was the highest # of bulls recorded (this is II survey) and didn't even bring up the fact that we have seen numerous readings that were at the 87 top in bullishness from late november thru July. bb