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

To: Vitas who wrote (14732)	5/23/1999 11:04:00 PM
From: bobby beara	Respond to of 99985

Vitas, i wouldn't guess at a count from the april top on wmt, but it is has broken the uptrend and now is in a channel down, making lower highs and lower lows and is taking out the april 19th low for the 2nd time, here is what i'm thinking now, up until a couple of months ago people were talking about low rates and inflation and we got the opposite, now people are talking about higher rates and some inflation. We have what looks like 5 waves complete on the bonds. it's just possible the yen is going drift down and we will get a new round of devaluations, and get another disinflation, deflation scare. The CRB made what looked to be a rounded bottom, but now has rolled over broken uptrend and headed down. I had argued with somebody who follows Prechter on his $200 gold idea, but considering the chart pattern of the XAU with a failed inverted h&S 1.5 year base i will now bend on my goldbugginess. The HSI rallied into the 97 H&S top and reversed hard, had a weekly gap down. The real estate excesses in Hong Kong were said to rival or exceed Japan 89, it ain't over till the fat beara sings. bb