MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: eichler who wrote (81194)	8/3/2001 6:34:08 PM
From: JRI	Read Replies (3) of 99985

2071 wasn't close enough to 2074 for you? No horseshoes or handgranades, eh? Whadda think of this chart....interestingly, we have formed a similar 3 day pattern to 2 previous tops/"fake breakouts"...ie....Bearish Evening Star/DOJI Evening Star. The diffence this time is that we managed to stay above resistence line at close.....however, could that last hour/close been skewed by games/short-covering? I've got short-term stochastics as overbought on everything, and portends early down on Monday...but, of course, gap ups are always possible by the powers that be... I am curious as to why 2071 wasn't good enough for ya...something else you're looking at? Any thoughts on this chart appreciated. stockcharts.com

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