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Strategies & Market Trends : MDA - Market Direction Analysis

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To: donald sew who wrote (3879)	1/13/1999 8:32:00 PM
From: Jack T. Pearson	Read Replies (1) of 99985

Donald, I'm not sure that today's S&P500 candlestick pattern is really the hanging man. A hanging man signals the end of a rally. Today's candlestick followed two days of decline. A traditional hanging man reflects the facts that upward momentum by the bulls was stopped and nearly reversed by the bears. Furthermore it bounced off of a support line around 1230. It could be a hammer. Most likely, it is neither. I think we may, in fact have seen the local market top three days ago. Jack

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