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

To: Robert Rose who wrote (31239)	10/24/1999 12:30:00 PM
From: epicure	Read Replies (2) \| Respond to of 99985

where is Carpino right now? Isn't he bullish?

To: Robert Rose who wrote (31239)	10/24/1999 12:50:00 PM
From: John Madarasz	Respond to of 99985

Shepler...on the fence until late next week... please correct me if I'm wrong Best Regards, JM

To: Robert Rose who wrote (31239)	10/24/1999 1:52:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 99985

I'm more bearish now than I've been in twelve years... I'm expecting a possible test of the DOW 8500 level before this whole thing is over..... GZ

To: Robert Rose who wrote (31239)	10/24/1999 2:58:00 PM
From: Stcgg	Read Replies (1) \| Respond to of 99985

WR0NG! There is no bullish argument for the near-term trend.. All indices are at resistance in a downtrend, the most recent entry is the Nasdaq, with a lower low and now a possible lower high in place.. Expect a mop-up rally in the Dow & S&P early next week, followed by a sharp and steep decline in wave 3 of the downtrend.. Wave 3 is the longest in the Elliott Wave pattern.. Dow resistance levels are 10507-10525, with higher resistance at 10592-10719.. The Nasdaq completed a perfect fibonacci 78.6% wave 2 retracement on Friday morning, it is ready to begin a sharp fall down toward support at 2168 in the futures, 105 7/8 in the QQQ's.. The 5Day ARMs is overbot @ .768.. The CBOE shows widespread complacency.. Recent volatility and the zig-zag nature of the upward retracements give added clear evidence to the argument that recent rises have been corrective, rather than impulsive waves.. >><<