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

To: pater tenebrarum who wrote (40863)	2/20/2000 11:42:00 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Heinz i follow some people that specialize in e-wave counts. as usual their assessment is not unanimous. one count has the NAZ entering 4 of V , a correction after which a final 5 of V rally should ensue, another says we have already finished the final wave 5. i'm open minded with regards to that...imo if the high risk time segment passes without a major debacle, we have to look at the fall for the fall. however, perhaps spring springs a surprise... I'm not an ewaver although I sometimes use some useful parts of ewave - certainly I look for 3's and 5's in a lot of things (peaks etc) and fib retracements need to be watched, well, since everyone does. Frankly I think much of TA comes down to that. Watching for what others watch, and acting accordingly... I'm pretty much a price only person. Its usually pretty easy to see when markets are in movement or in congestion, and the risk is always higher when in congestion patterns. If we get past the congestion in the tech market then my warning bells will dim for awhile. Since the SPX, INDU and NYA are clearly in motion and a downtrend, we should see some interesting stuff as they bottom (even if its a short term swing bottom before continuation) -- I really don't know what to expect -- just think that the action in the tech vs SP/etc markets will be both interesting and telling...