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

To: HairBall who wrote (29693)	10/14/1999 7:38:00 PM
From: Benkea	Read Replies (1) \| Respond to of 99985

more from Greenie: biz.yahoo.com

To: HairBall who wrote (29693)	10/14/1999 9:09:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

LG, we got pretty oversold on the 60 minute charts, a reflex bounce here is due and the put volume is showing signs that fear is entering the market. Also the wave structure bothered me on the ndx rally off the triangle around the 9/28 lows, to me it looks like the rally to new highs was wave 3 and now we just finished today wave 4 of this which should be the final leg up in the what i'm calling the tech blow-off wedge from last october lows with: 1- Jan top 2- March low 3. April High 4. June low 5 a complex five wave rising wedge that should now be completing. It may not go back up and make new highs. I'm also considering that the fibonacci dates surrounding early next week could be a top and not a bottom. Of course this whole triangle could be a consolidation for another leg up and blow-off peak, BUT given the state of a/d line i would have to believe that we would need a capitulation of all the leaders to put in bottom, or maybe this is a new era -g- bwdik