MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Teresa Lo who wrote (24301)	9/1/1999 1:03:00 AM
From: nelli	Read Replies (3) of 99985

T, Can u explain what a "Three Black Crow" Pattern is? Thanks in advance From the Ord Oracle 8/31 WHAT TO EXPECT NOW. On our August 25 commentary, we said, "On the Weekly candlestick charts on the September S&P's going back to the July high time frame, a bearish "Three Black Crows" was drawn. The "Three Black Crows" presage lower prices if they appear at high price levels or after a mature advance. Both of these conditions exist for the current market. There was a "Three Black Crow" pattern drawn on the daily charts going back to April 28, 29 and 30. After the "Three Black Crows" was drawn the market went back up and re-tested the highs before heading down in earnest." On August 26, 27 and 30, another "Three Black Crow" pattern was drawn. Therefore, expect another significant decline after the next bounce. For short-term the market is extended. The "5 day ARMS" closed at 6.29. Readings near 6.00 and above appear near short-term lows. The downtick readings hit over minus 1122 near today's low, which is a bullish sign. There is support near the 1320 area on the September S&P's and a potential bounce could set up from that level. Today' s low on the September S&P's was 1324.00. If a bullish signal were generated, we would look for a bounce to the 1350 area. We will be watching the 1320 area tomorrow for a bullish signal, and if triggered, we will announce it on our phone service for the option play. We will wait to go short on mutual funds on the next bounce.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next