Market Trend Analysis from MomentuMonkey Message Board

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Strategies & Market Trends : Market Trend Analysis from MomentuMonkey

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To: David Lee Smith who wrote (275)	1/31/2001 6:07:46 PM
From: Stcgg	of 281

Charts in Sell Mode.. Subject: Bearish reversal candles We've got them....across the board. DJIA - Shooting star preceded by a tall white candle. Need good downside followthrough on Thursday to confirm. NYC - Same as DJIA. COMPX - Tall black candle which also engulfed yesterday's small doji. Confirms Tuesday as a reversal day and should continue lower tomorrow. NDX - Same as COMPX. NASDAQ markets are showing the most obvious weakness and should lead the way down. SPX - Shooting Star. Potentially bearish but needs downside followthrough tomorrow. OEX - Same as SPX As for the SPH and NDH futures: SPH - Shooting Star. Needs confirmation with a good down close on Thursday. From an MA standpoint, trading below 1366 opens the door to additional downside to 1346. NQH - Tall Black candle. Confirms Tuesday's Spinning Top and creates a 3-day Evening Star Doji. >><<

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