MDA - Market Direction Analysis

[deuce bigalow]

DISCLAIMER: My posts reflect my opinions only! <<<<

nice channels augie, today the market had the chance to break out of the McBigalow Snoozilator and move below 1600 support, but instead of the bears taking control, the bulls kicked em again and did a tail through your channel lines and a tail off the lower band, this could be a bullish spring, while there was some excessive call buying a couple of weeks ago, now they are buying poots over the last several trading sessions like we have been in a major downtrend for several weeks, not a sideways consolidation,

from an elliot perspective, you could put an ABCDE on the nasdaq from the early june top, with today's intraday low being the E wave, get your Earse long, as they say, we shall see.

DISCLAIMER: my posts reflect the opinions of my 3 cats, if they all meow in unison when i prompt them to give me a buy signal, i go 200% long, if they all fall asleep, I go neutral and all cash, if they all head towards their own kitty litter box, I go 200% short =g=