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

To: bobby beara who wrote (10872)	4/13/1999 5:09:00 PM
From: pater tenebrarum	Respond to of 99985

Bobby, would your wave-count of yhoo and aol apply to amzn as well? i have noted that the stock has consolidated at it's current levels and that every decline has bounced off the ten-day moving average during the past few sessions. my read of this is that the stock may move to new highs if the market as a whole holds up. regards, hb

To: bobby beara who wrote (10872)	4/13/1999 6:23:00 PM
From: j.o.	Respond to of 99985

Thanks for your Elliot analysis, Bobby. I was just looking at AOL and came to pretty much the same conclusion. If market sentiment holds, then do you think that the 4th wave in the NUTZ might just be more sideways to upwards? The markets just don't seem to perceive any risk associated with AOL et al, so I wonder how #4 might unfold there. In the grand scheme of things, we are so close still to the AOL top. What did you think of the GAP and subsequent reversal in the NAZ? I would have found it very bullish if we had kept the gap open, but there was no follow through. I am tempted to characterize this as a key reversal unless we manage to rebreak above 2600. Any thoughts?