MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

0.0%

Dec 26 4:00 PM EST

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To: Michael Watkins who wrote (39028)	2/4/2000 8:29:00 AM
From: HairBall	Read Replies (2) of 99985

Michael Watkins: tho my gut says down I'll let the market take me into the trade in whatever direction it pleases. In the last bar of the sixty minuted interval chart the COMPX stopped at a 83.3 Fib retrace yesterday and formed to me what looked like a hammer. I believe that is a reversal formation, but I am no candle expert. In addition, an Index I have been watching closely as of late the VGY, broke to the norm which was down last Thursday 1/27. However since Monday it has rallied back up to and is testing the lower trend line of that formation. Over the past couple of years a spike rally reversal like we have seen since Monday has almost always indicated an end to a down turn. However as you, my gut says this time may be different... Regards, LG

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