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

To: John T. who wrote (34175)	11/24/1999 10:13:00 PM
From: bobby beara	Respond to of 99985

Another possible count on that Dow chart is that we are now completing wave 1 up of a five wave sequence and the correction in the internal market happening now is only barely showing up in the major averages (spx/dow) and not at all in the ndx (that may change next week) Be nimble, bulls and bears should both stay out of the glue -g- bb

To: John T. who wrote (34175)	11/25/1999 12:35:00 AM
From: Stcgg	Read Replies (3) \| Respond to of 99985

Elliott Wave.. John, if the Dow surpasses 11,366 the Bear case collapses totally under EWT.. So far, this "wave 2 correction" in a new bear market has surpassed even the 78.6% fibonacci retracement of wave 1 (a no-no).. Prechter has had his tail between his legs for the past month and a half, calling for a Dow 9200 decline in wave 3.. If this ever happens, it will have to wait till the Santa Claus rally is over and worries mount concerning Y2K, rates, etc.. His waves will have to zig-zag in the meantime, but if Dow makes another new hi, (as the Nasdaq has), he's wrong again.. He also said the same wave 3 decline was imminent for the Nasdaq (before making daily hi's).. Prechter was also wrong in 1996, 1997 and 1998.. LOL! >><<