MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: StockOperator who wrote (7027)	2/25/1999 10:19:00 AM
From: Lee Lichterman III	Read Replies (1) of 99985

I still disagree. It is like trading throughout the day during a sell off. How many times have you seen a day where the market sells off hard all day with a TRIN around 2 and a -500 TICK then in the last 5 minutes, the TICK swings to plus 1000 and the indexes all shoot up to where they started the day. The J6P hears on the radio as he drives home from work or on the 10:00 news that the DOW ended the day flat and thinks all is well. Your statement that the end as it reads into the trend implies the market is flat yet a boatload of shares were dumped. IF we sell off hard today, I wouldn't be at all suprised to see tomorrow up as that is how my J6P indicator generally works although it will conflict with Don's read which is more reliable. My J6P indicator is nothing more than a label applied to conspiracy theories <ggg> I feel Advance/Decline and A/D volume especially speaks more of true MM intentions. It is the same as a hollow run up, on the surface everything looks good but underneath it is ugly. Don't get me wrong, I use weekly and monthly charts also and to somewhat agree with what you say feel the weekly candlestick pattern can show a lot but I also weigh that with the daily and intraday charts. The weekly shows the long term trend ut won't get you in or out in time. The daily and intraday charts get you out and in closer to the tops and bottoms. PS - The weekly charts haven't looked too great lately either. Good Luck Lee

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