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

To: ru2 who wrote (78627)	6/14/2001 11:34:48 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

ru2, re-wave count: i believe today's gap and volume expansion turned the market out of it's trading range, so the question here is if the may 21st high was the completion of an ABC or abcde (depending on index) countertrend rally, or if we will have something similar to last summer were the first drive down of the first countertrend rally was met by another fakeout rally into sept. the nikkei did a fakeout inverse H&S pattern and rolled over from an ABC countertrend rally from the recent swing low and i tend to think that the drive down from the swing high from last june was was a wave 3 down, the next leg should make new lows, don't no if it will head straight down or not, but whenever it does dood will the crowd be bearish and will creat a mega buying opp. nikkei and daq are joined at the hip, i would expect this final move down to much more volatile than the move off the jan highs, that's my WAG, i'm off to maui, be back in a couple of weeks, hopefully the SI stinkhole will have less smell by then. b