MDA - Market Direction Analysis

[deuce bigalow]

: I am aware you believe a bell curve started in 1995 for the NAZ Comp.>>>>


Lg, i think it's impossible to put a point of reference on a bell curve off the 1974 lows, you have T going back to lows in the late 70's, most of the major airlines are trading back at that area now, this bear market is much worse than is publicised in the media, which is very worrisome, there should be bears aplenty on the cover of magazines and front page dailies, the only time we get this is during parabolic down moves and washouts, like into late july.

We are on the verge of making a new high in 52 week lows on the nyse, after we touched the h&S top at 950 in august there has been nothing other than short choppy countertrend rallies and one day wonders

http://stockcharts.com/def/servlet/SC.web?c=%24nylow



this chart from cross current puts an exclamation point here, if you believe the pattern from the 97-98 lows is a bubble H&S top, and that the 98 lows were broken on huge volume and we retested the neckline on weak volume.

I think we need a selling climax here to bottom this thing out, similar to the selling climax in late july.

Unfortunately i called back in most of my shorts on 9/23 and reshorted and held only for a day recently, i expected more sideways off that low before another leg down.

Remember during the bubble in 99 - 00 stocks could double in a matter of days or weeks, now we are seeing stocks lose 50% of their value in the same time frame.