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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Justa Werkenstiff who wrote (20988)10/6/2001 8:34:50 AM
From: donald sew  Read Replies (4) of 52237
 
Justa,

>>>> BKX has three outside down pattern....:
litwick.com <<<<

Good catch again. The THREE OUTSIDE DOWN PATTERN is a 3-day pattern that confirms the BEARISH ENGULFING PATTERN(2-day pattern) which already has a moderate to high reliability.

Besides just being a confirmation of the BEARISH ENGULFING, the THREE OUTSIDE DOWN PATTERN has another issue - it has lingering negative effects, similar to that of a 3-BLACK CROWs. If the THREE OUTSIDE DOWN doesn't continue down immediately, there could be a small rally before the selling resumes and possibly intensifies.

Simply put, it ain't looking good for the BKX, which should have some effect on the DOW, and maybe alot.
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