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

To: Benkea who wrote (24091)	8/28/1999 10:28:00 PM
From: donald sew	Read Replies (3) \| Respond to of 99985

Hi, For CANDLESTICK watchers, take a look at the weekly CANDLESTICK. On quite a few indices(DOW,SPX,OEX,DRG,DOT) the CANDLE is a GRAVESTONE DOJI/INVERTED HAMMER, some better than others. This pattern is where the week's open and close are near each other, and that during the week there was a strong runup only to lose most or all of the intra-week gains. It is not statistically viable, but I could not help not noticing a similar pattern in the SPX last AUGUST before the drop into SEPT. Just an observation but not my opinion since I am not expecting a huge selloff. seeya