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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?


To: donald sew who wrote (31658)8/25/1999 11:41:00 PM
From: Brian Hornby  Respond to of 44573
 
Don,

I just had a look - yes - a hanging man it is! We are in agreement. Hanging man signals have a reasonable track record of signaling reversals.

However the NASDAQ is up up and away and just about to do a double top breakout (or fail at the double top <g>). As I am trading the NASDAQ I am going to hold on for the ride a little longer and see what develops. I feel the DOW may consolidate above the 11200 level while the other indices catch up to new highs, but who knows...



To: donald sew who wrote (31658)8/26/1999 12:04:00 AM
From: Chip McVickar  Read Replies (1) | Respond to of 44573
 
donald,

FWIW...bar charts for the DJIA show the 25th was an inside day
Further more August is an outside month

Looks like a modest short term correction is in the making?

My guess 1350 SPX....at worst 1312.78



To: donald sew who wrote (31658)8/27/1999 8:51:00 AM
From: Brian Hornby  Respond to of 44573
 
Donald,

Nice call on the INDU candle formation. Difficult to say what is the next step, my systems are still long and SP 1365 is holding for now. The market looks overbought from the last run up so I have a neutral bias for the moment. A good break of 1365 today would likely change my opinion.