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

To: Lee Lichterman III who wrote (29393)	10/13/1999 3:33:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I want to clarify my last post. I never bothered to put bullish forks on my OEX since it was tracking so well with the bearish ones but on my DOW chart I had both sets and only bullish ones on the NASDAQ. When I gave my projection targets in my last post then saw the market selling off hard, I checked to see how it was doing as it was getting closer to my targets. I just checked and my targets were using two different styles of forks. If the DOW 10200 fails, then the bearish fork target would come into play which is around 9800. The NASDAQ is too complicated to write about as I have two possible bearish forks I am playing with and won't decide which to give the most weight to until the market closes and I get today's data to see how the tines line up. Good Luck, Lee

To: Lee Lichterman III who wrote (29393)	10/13/1999 3:34:00 PM
From: donald sew	Read Replies (3) \| Respond to of 99985

Lee, Just a CANDLESTICK TIDBIT. If we close at the lows and tomorrow is another down day we may get another 3-CROWs, and possibly an IDENTICAL 3-CROWs, which is even more negative than a 3-CROWs. If we get specificly an IDENTICAL 3-CROWs, then I expect a bounce the next day which would be FRIDAY. However the 3-CROWs, in either form, implies that after the bounce lower lows should follow. So the 3-CROWs, in certain cases, is like a mini-reversal signal, but also implies greater negativity down the road. I feel that the 3-CROWs is one of the most reliable and negative CANDLESTICK PATTERN. Remember the 3-CROWs was at the early stage of the decline of the SPX. The NEW LOWs are above 300 again. Interesting that it took several days for NEW LOWs to improve from 300 to the 130 range, but only 1 day to worsen from 130 to 300. Not good for the BULLs. seeya