Replies to post #11613 on MDA - Market Direction Analysis (MDA)

[augieboo]

Hey Deucie, long time no see! I guess Xtina & Britney have been keeping you busy, eh? {g}

I don't know what the fark Ms Market is up to, but I suspect at least another fake or three in each direction before we find out.

Ultimately, I expect, at most, a standard i.e., Dow/Fib correction/retracement before we take off again. But that still leaves enough leeway to get hurt really bad if we pick the wrong door.

[Ek]

deuce: the DOW is trying to negotiate Apr '02 high of 10353. since that's been leading this rally for the past few days, a close above that would be quite bullish, and a close below that may be indication of short term top, imho. the NAZ is trying to bounce off some oversold conditions, and the SOX close above 500, with some initial follow thru would be needed to maintain this rally.

ek