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

To: Follies who wrote (5208)	2/2/1999 12:46:00 PM
From: Bull RidaH	Respond to of 99985

Dale... BK is underway. On the March futures, we should head down to the mid to high 1230's in the next day or two, come back up for a test of the low 40's, then move lower to 1212. We should consolidate between 1212 and 1230 for a brief period of time (maybe a day or two), and if we can break 1212, which we should, then we should be enroute to the primary target of 1135, which will equate to December's lows on major indices. I expect that number to hold, but if for any reason it doesn't and things get out of hand, the maximum target for this sell off would be around 935, the October lows for all indices. On the Dow, the maximum depth would be 7500, but the H&S pattern targets 7775 on the March futures, so that number could be significant if and when hit for all indices. 1277 should now hold all advances to keep this scenario intact. We are currently fighting the 1 day down channel line (the upper one)around 1260. If we break it, we should head to 1270 before resuming the down move. That would be an excellent short entry point. If we fail to break it, then right now is an excellent short entry point. Regards, David