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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.86

-0.4%

Dec 29 4:00 PM EST

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To: dennis michael patterson who wrote (29554)	10/22/1999 3:46:00 PM
From: Doo	Read Replies (1) of 99985

Since you mentioned O'Neill, today will mark confirmation of an intermediate term low in the indices (provided price remains 1% from yesterday's close and volume is higher than yesterday). A 1% on volume move within a 3-10 day window off a recent low is about an 80% reliable signal. Failure occurs upon taking out the low from which the follow through day was counted. In this case, we use Monday's low. Today is day 4, and price appears as if it will hold and volume will be sufficient.

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