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

To: Gary Burton who wrote (66108)	1/6/2001 2:57:27 PM
From: Gary Burton	Respond to of 99985

more prechter---At its recent low the nazdaq was 36% below its 200dma, the largest such difference on record. These measures befit a 3rd wave decline (note-could easily be a C as i see it)...Our charts show a neat parallel trend channel connecting (on a log chart) the March peak with the orthodox top of wave 2 (4260), drawn off the May00 Low of 3020ish. The lower line of the channel crosses between 1925 on Jan 1/01 and 1785 by the end of the month. Prices are likely to touch , if not break, this lower line before the start of Wave4...Any close above 2870 would suggest that a period of consolidation and rally is likely underway.." So the moment of truth is at hand. Did the mania start from mid 99 or from the Oct98 low? Will 2000 hold this month?--note --there is a gap to maybe fill at 2086.14 (jan99)