MDA - Market Direction Analysis

[ponkap]

surprisingly, Onischka has been the best >>>

Thanks for your input.

I'll leave defense of e-waves to those who are experts in them.

However, my limited and extremely unsophisticated (caveman level) use of them has been very helpful.

I've worked them since March '02 to track the S&P daily close. Using Fibo #'s for wave length and retracement estimates has, so far, given me decent approximations of timing for trading Spiders (and now, thanks to input from jimquinceh, RSP's.)

Should point out that my take on the overall e-wave situation is just the opposite of the experts.

I believe Onischka, Prechter, etc., are showing we're in the C-wave period of an A/B/C correction that will be followed by another very steep down impulse wave.

My take is we're in an up impulse wave searching for 4th-wave bottom (if Onischka's right, we got that Wednesday) and the down turn that follows will be a much milder A/B/C correction.

As jimquinceh would say, "We shall know in the fullness of time."