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Strategies & Market Trends : P&S and STO Death Blow's
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To: ajtj99 who wrote (6993)9/13/2002 7:19:34 AM
From: Justa Werkenstiff  Read Replies (1) of 30712
 
AJ: Yes, I think you are asking too much. You have a deliberation like candle pattern off the previous 1251 low with three tight body up days. The market struggled to go up those days like a force of gravity were beneath it. And then you have a shooting star which, in my mind, is confirmed by the next day's gap down and renders it an evening star pattern. Moreover, one day of gap down and the black stick wiped out most of the gains of the prior three day up days. So, in effect, you are asking the market to override what it just took five days to accomplish and to do it all over again at least up to 1315 which means to fill that gap. I suppose op ex is the time to do that if at any time but I would not bet on it. I also don't see such a move in the retrace. It seems it is toast time after 1288 or so is breached on the down slope. The market fooled with that level yesterday quite often and finally broke it.
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