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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Gersh Avery who wrote (10421)	4/9/1999 1:14:00 PM
From: Robert Graham	Read Replies (3) of 99985

Yesterday was suppose to be the 3rd day down on his cycle method as per his original instructions. Price action invalidated that call and caused a buy signal. I have learned that when the market down not sell off on a down cycle day, particularly the third day, it will continue its move up. This is what has happened. I find that cycles do slip, and this happens frequently enough. But when it happens this provides a good indication for movement in the opposite direction. Please correct the above if its wrong. But I think you must admit that the NASDAQ during the three day period had at best what would be considered mild down days. Each sell off recovered the same day or in one case where there was selling at the end of a trading day it recovered by the beginning of the next day. I do appreciate the feedback and questions you and LG are posing to me. I have found a thread that I will be challenged on. This is good! Bob Graham

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