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NYSE models remain on buy and confirming this rally on all counts ...
w.3 is complete, am looking for pullback in SP (basis June) to 1460 area
followed by w.5 rally to new highs in 1550 area ... still a dangerous
market - SP remains at extreme high historical valuations relative to
earnings and to interest rates even though it looks cheap compared to
high tech. NASDAQ models remain on sell and continued to get even more
bearish in rally from 15March low ... retest on 20th failed on all
breadth models ... spring is seasonally weak for techs ... could be a
good shorting opportunity.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, March 17, 2000 11:16 AM
Subject: Re: [RT] Re: markets/outlook for 5-10 days
> We have rallied beyond the 78% retracement of the decline from the
3Jan
> high, the 100% expansion of the initial rally/decline (w1-2?), and the
> 162% expansion of the most recent rally and decline (w.1.3-w.2.3?).
This
> appears to validate the current rally as w.3.3 and a w.3.5 projection
of
> 1510 based on 162% expansion of w.1-w.2. Thus we should probably
expect
> a pause here for w.4.3 followed by another rally to complete w.3 at or
> beyond 1510.
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, March 17, 2000 9:17 AM
> Subject: [RT] Re: markets/outlook for 5-10 days
>
>
> > My NYSE models still looking good, NASDAQ models deteriorated
> yesterday.
> > This suggests that NASDAQ will retest its "bottom" within a few
days.
> >
> > Earl
>
>
>
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