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Strategies & Market Trends : Tech Stock Options

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To: The Perfect Hedge who wrote (51471)	9/3/1998 7:17:00 PM
From: epicure	Read Replies (1) of 58727

Today was a hammer or hanging man- depending on whether you think we are in an uptrend from tuesday, or still in the larger downtrend. Tuesday was a piercing candle and bullish, weds was close to a tweezer or dark cloud cover- showing that tues bullish candle was not confirmed, today we get a hammer- if we take it to mean we are bottoming, or a hanging man - if we take it as a sign the upward momentum on tues is dissipating. We will have to wait for tomorrow and confirmation. Stochastics are definitely signalling a pause in the downtrend, as is time segmented volume/rate of change and money stream. MACD has fallen through the bottom so I can't see the bottom of the line to know whether it is turning or not. I think we could close down tomorrow but it looks like we should have another relief rally soon- but I can't tell you exactly when. My most specific information, and the information most likely to be correct, is that from the 5 minute chart- but it is only really accurate for about one 1/2 hour at a time, and only then if the market gives clear signals.

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