MDA - Market Direction Analysis

[mjk]

Hey Jim...no, the consolidation continues, but it's coming IMO.

I think we do rise here in one of two ways...I think we're either at comp 2150 by april 1st, pause/correct for a few days then explode over 2300 by late april.

Or, we explode over 2300 now, as in straight up, over the next 7-10 days...then consolidate again for a few weeks.

This thing is dragging out about as long as it can...yes, I was hoping we'd explode up by now, but it's still struggling along. I'm also not at all in the camp that thinks april proves to be some significant top. Once we're at 11750 on the dow, and 2400-2500 on the comp in the next couple months, then we should pause for some period of time IMO.

This is getting tricky at the moment but I'm just sticking with the idea that this drop and consolidation, even if it goes a bit further, is the last buying opp of the year.

I think the sox is about to see a massive upward explosion... 15-20% within weeks.

All JMO of course.