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

To: bobby beara who wrote (14852)5/25/1999 9:37:00 AM
From: j.o.  Read Replies (1) | Respond to of 99985
 
Some repeated dates there...I suspect I know what you mean. I see Wave 1 ->early 96, 2 sideways into mid-96, BIG 3 from Aug 96-> July 98, 4 sharply down into October 98, and then the recent 5-subwaves within big wave 5 from October 98 -> now.

If that's the case, we should now expect a 38.2% (minimum) retracement of the entire upmove. Eyeballing this on the Dow, I would put the expected target at roughly 8200.

I am going to try and see how well this pattern fits other charts today. More later.

Thanks,

j.o.



To: bobby beara who wrote (14852)5/25/1999 11:53:00 AM
From: pater tenebrarum  Respond to of 99985
 
to all: i was unable to update PUT/CALL ratios today as i am experiencing serious problems with my computers. things should be back to normal by tomorrow. let me just say that a quick scan of yesterday's options data shows that there is not yet enough fear in the market. in fact there is still a lot of speculation on a bounce, so i guess we will see more selling before this correction is over.

regards,

hb


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