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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Berney who wrote (16171)6/6/1999 2:46:00 AM
From: Lee Lichterman III  Read Replies (2) of 99985
 
I'll take a shot at one of those you posted as far as volume. I was watching WMT close since it was one of my picks a while ago. Your numbers show 8 Million shares versus the normal 5 million. I don't see this as bullish if that is what you are trying to point out here. WMT had a multi-day run up and just formed a doji star on this high volume day. As Jim pointed out, high volume usually signals a reverse in trend and if the last few days were up and there was high volume with no real change in the price throughout the day, my bet would be that it will be heading down soon again. Now a doji means there was indecision so it could go either way, but indecision dojis usually are on small volume from my experience and when they are on high volume, I have found it profitable to bet the opposite way most of the time.

I haven't looked at your other examples enough to have an opinion on them.

Froma quick look, I agree that MSFT "could" be bullishhere but it has failed to break through and hold the 80 level multiple times so I won't get excited until it does so. As for your 4 legged stool, I like that analogy. The problem I have if it is true is how the DRG index broke it's multiyear trendline and is now in a sideways fork. It could climb up a long way and still not be in the channel it had in better times.

Good Luck,

Lee
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