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

To: pater tenebrarum who wrote (10109)	4/7/1999 9:30:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Heinz, BK is OK, but he sometimes sniffs the same glue Prechter does -g- Counting waves from the 1700's is futile. 1994 was a definite sideways ABC bear corrective leg, my interpretation of the chart pattern from there: wave 1 into the 96 peak, and extended wave 3 into the July 97 peak, a corrective wave 4 into 10/8, now we are in the final leg of the move off the 94 lows and this whole sequence will be corrected, which may or may not be a terminal wave of a larger sequence going back to 1987 or 1973. 10/8 was not a bear market bottom, if it was we would have outperforming small caps, like they do in Japan and there would have been a change in leadership groups. For the OEX ascending wedge to be valid, we must close below 671 today, any break of that trendline would invalidate the bearish case and send us up big. The SPX has yet to touch the trendline, I expect it will today. bb