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

To: Vitas who wrote (15464)	6/1/1999 8:48:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Vitas, strength in the Hang Seng index, the FTSE and the HEX would argue for a continuation of friday's rally. on the other hand, SPX futures suggest we'll have a weak start. much depends probably on the economic data to be released today. i'll be watching amzn very closely to get a feel for where we are headed; if it can shrug off the negative barron's article in the course of today's trading, the probability for a short term bottom in the nutz to be in would be dramatically enhanced. that in turn would lead me to expect a continuing corrective rally before the decline resumes. if no recovery is forthcoming during trading today, the fifth wave down can be considered to be in progress. there seem to be rising expectations for a summer rally once the correction has run it's course, which means we may not get a summer rally after all, but perhaps a violent summer correction instead. regards, hb