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

To: j.o. who wrote (14794)	5/24/1999 5:17:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

j.o. i get a headache trying to figure out the bigger picture wave count and I believe it is akin to chasing windmills (sure has been for Prechter -g-) Another waver I follow - Larry Katz, counts this wave we are in as the completion of wave 3 of 3. Wave 3 started 1982 and the 1987 crash was wave 2 of this wave. This would put this correction to test the area of wave three of the previous degree which would be the 8200 to 7400 area. Then there is Dan Ascani who used some fibonacci multipliers to peg 1371 and I was watching an interview with him the morning the s&P hit that number during his interview -g- We keep making new highs with breadth (a/d line) non-confirmations and people are saying the breadth is looking good, as Katz would say the breadth stinks, we get a 2/1 day here or there, but not even back to back, in the hey day of the bull going into the 87 top there were days on end with 2/1, 3/1 and 4/1 breadth. Whatever stage we are in the game, all the indicators tell me we are in a fifth of some degree and the correction will be much larger than anyone anticipates, it could even be the big kahuna. bb