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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (18075)	6/21/1999 5:51:00 PM
From: pater tenebrarum	Respond to of 99985

Don, i believe when the party ends, we'll have a key reversal day, where a fresh record high is made in early trading and the market closes below the previous day's low, as it did at last year's july top. another possibility would be an island reversal, sort of like an 'abandoned baby' in reverse. both signify a sudden change in market psychology, the reasons for which usually become clear only in retrospect. i will be on the lookout for these or other reversal formations to develop when the market hits new record highs. any gaps after a prolonged run will be deserving of special attention. regards, hb