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Strategies & Market Trends : MDA - Market Direction Analysis

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Oct 31 5:00 PM EST

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To: bobby beara who wrote (43559)	3/18/2000 4:21:00 PM
From: Walt Deemer	Read Replies (1) of 99985

Lowry's has a study of panic selling climaxes, they use a 90% downside day(s) followed by 90% upside days as a selling climax and reversal (90% points lost + 90% downside volume is a selling climax and vice versa for the reversal day) Although we did not have such a downside day where everybody said get me out, we have had a merciless 6 weeks of selling in the cyclicals and other "value issues". This week we definitely had a 90% upside day. A list of 90% Upside Days that were not preceded by 90% Downside Days since 1970 ("most of which", in Lowry's words, "had very bullish implications"): 5/11/90, 8/2/84 and 8/3/84, 7/20/83, 10/6/82, 8/20/82, 8/17/82, 8/2/78, 11/26 and 11/29 of 1971, and 11/3/70.

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