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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Paul Shread who wrote (33065)10/16/2000 3:12:20 PM
From: donald sew  Read Replies (3) of 42787
 
Paul,

>>>> How much of a pullback could be expected if we get the three-day pattern? <<<<

What I have noticed with the 3-DAY pattern is that if it does not occur it would imply weaknes. If it does occur, that should be the norm. So if DAY-3 is up nicely and fulfills the 3-DAY pattern, the forthcoming short-term dip should be normal in size relative to the trend.

So if the 3-DAY PATTERN does work, it should not be considered as overly bullish, just relatively normal.

Of course if DAY-3 rockets up several hundred points/alot more than DAY-1, and market internals improve significantly, then that would be be bullish. But if tomorrow is up similar to DAY-1, that would just be the norm per the 3-DAY PATTERN.

Hope DAY-3 works so I have a better point to initiate shorts/close longs, of course unless it rockets as mentioned above.
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