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

To: Gary Burton who wrote (60594)	10/14/2000 2:43:04 AM
From: IndexTrader	Read Replies (2) \| Respond to of 99985

Gary, Good point about the Naz not qualifying as a flat, since B did not retrace 61.8% of A. Came pretty close, though, and S&P and NDX were OK. Nasdaq is always the naughty one. It does not qualify as a zig zag either, because the October low would have had to go below the May low for that to occur. We shall see if Nasdaq can get away with breaking the rules.

To: Gary Burton who wrote (60594)	10/15/2000 11:42:19 PM
From: da_cheif™	Read Replies (1) \| Respond to of 99985

gary....we count the nas as a completed flat for a number of reasons not the least of which is the similarity to the formation of the dow in in 1987...as you recall the orthodox hi for the dow was march 1987 the subsequent correction into may 87 was wave A..the subsequent peak in Aug 87 wave B. the subsequent 5 wave decline into dec wave C....that particular call I made months in advance and if you would like a copy of the newsletters I wrote prior to the crash of 87 Id be glad to fax them to you....now for the current nas count till proven otherwise the orthodox hi was reached in the 1st week of january...the A wave ended a month later follow by the classic B wave eurphoic hi to the march peak...the subsequent decline a 5 wave affair that once again like the 5 wave decline in dow of the 87 crash has got wavers like prechter looking for the end of the world.... supporting evidence for the exctremely bullish outlook is the classicly bullish count of the sox and the nyse....