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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: Lee Lichterman III who wrote (29393)	10/13/1999 3:34:00 PM
From: donald sew	Read Replies (3) of 99985

Lee, Just a CANDLESTICK TIDBIT. If we close at the lows and tomorrow is another down day we may get another 3-CROWs, and possibly an IDENTICAL 3-CROWs, which is even more negative than a 3-CROWs. If we get specificly an IDENTICAL 3-CROWs, then I expect a bounce the next day which would be FRIDAY. However the 3-CROWs, in either form, implies that after the bounce lower lows should follow. So the 3-CROWs, in certain cases, is like a mini-reversal signal, but also implies greater negativity down the road. I feel that the 3-CROWs is one of the most reliable and negative CANDLESTICK PATTERN. Remember the 3-CROWs was at the early stage of the decline of the SPX. The NEW LOWs are above 300 again. Interesting that it took several days for NEW LOWs to improve from 300 to the 130 range, but only 1 day to worsen from 130 to 300. Not good for the BULLs. seeya

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