Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: kimberley who wrote (22285)	8/5/1999 10:48:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Kim, follow-through is always a requirement to confirm reversals, i would agree with that. still, today's candles, occurring as they did at the bottom of a downtrend are per se already the first strong sign of a reversal. considering that important support trend lines and/or moving averages were tested by the indices in the process, a reversal may indeed be a reasonable expectation for the near term. don't forget we get another set of baked govt. statistics tomorrow as well, and if past experience is any guide, the market tends to rally on the jobs data. in addition to all this we were oversold and put/call ratios were very high. if against all these odds there is no follow-through tomorrow, it would be proof positive that the market is in deep trouble imo. regards, hb