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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Wildstar who wrote (2177)	6/13/2000 9:35:00 PM
From: NucTrader	Read Replies (3) of 33421

OK. I confess. I had to ask my cousin, who trades S&P futures what an outside day was. The last part of his reply is interesting: >>you're right, today was an outside day on SPX and NDX It was also a two close reversal, meaning its low was lower than yesterday and its close was higher than yesterday and the day before. See www.insidetrack.com , actually haven't been there in ages so I don't know if that link is still good. The technician who popularized it says that a 2 close rev often marks the end of a counter-trend move and that it is valuable for judging the validity of an outside day reversal, ie today. He claims it is an effective 1-3 day pattern, which is interesting since that would take us through expiration Friday. I actually screen for that pattern on my stock screening program. Want to know something else really interesting that I bet you didn't see on the threads? the last bullish 2 close reversal was 3/15, the wednesday of the last triple witching expiration week. The SPX climbed 135 points to its alltime high in the next 7 sessions.<<

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