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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

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To: el paradisio who wrote (53698)	6/11/2000 11:06:00 PM
From: Casaubon	Read Replies (1) of 99985

the chart of the COMPX which you linked was not bullish engulfing. It was a Harami! Interestingly, it was a very wide harami pattern, indicative of distribution, IMO. Harami patterns do not carry the strength of reversal sticks such as hammers or engulfing patterns. The wide nature of this particular harami makes me very suspicious that it will turn into a reversal candle. Therefore, I am inclined to believe it is more of a congestion band in a downtrend. PS Pick a team <ggg>

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