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

To: TheKelster who wrote (53343)	6/8/2000 1:29:00 AM
From: $Mogul	Read Replies (2) \| Respond to of 99985

Mkt. looks very overbought, also the abundent 144's being filed signals to me we are near a short term top... I am looking at shorting oppertunities.

To: TheKelster who wrote (53343)	6/8/2000 1:29:00 AM
From: UnBelievable	Respond to of 99985

CyclePro U.S. Stock Market Outlook Forecast: The following is the new & revised SPX Preferred Count which is still bearish. The lower-level wave structures are still supportive of this count, but unfortunately the Preferred Count is no longer the runaway clear leader... the Alternate Count actually has progressed to an almost believable scenario. This chart shows if (red) "C" equals the length of (red) "A" (lime-green line), then the target is 1505 to complete (blue) wave 2. However, because I believe a large portion of Friday's initial blastoff rocket-rally was caused by technical factors related to call option covering with futures, and futures/index arbitrage, Friday's rally cannot be sustained -- the charts opening gap needs to be re-tested. Here's one technique to look for if the gap is re-tested this next week. If the SPX comes down to 1450 and clearly bounces back higher, then this should be a bullish indiction. However, if the gap is closed and the SPX continues to trade significantly lower than 1450, then this would be very bearish. This would especially be true if it trades down to the 1450 area and trades sideways for awhile as though 1450 were strong support, and then breaks through and trades much lower. Negation of the new Preferred Count will occur if the SPX trades above the "Failed 5th" level of 1527 geocities.com