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 : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wildstar who wrote (2177)	6/13/2000 9:35:00 PM
From: NucTrader	Read Replies (3) \| Respond to of 33421

OK. I confess. I had to ask my cousin, who trades S&P futures what an outside day was. The last part of his reply is interesting: >>you're right, today was an outside day on SPX and NDX It was also a two close reversal, meaning its low was lower than yesterday and its close was higher than yesterday and the day before. See www.insidetrack.com , actually haven't been there in ages so I don't know if that link is still good. The technician who popularized it says that a 2 close rev often marks the end of a counter-trend move and that it is valuable for judging the validity of an outside day reversal, ie today. He claims it is an effective 1-3 day pattern, which is interesting since that would take us through expiration Friday. I actually screen for that pattern on my stock screening program. Want to know something else really interesting that I bet you didn't see on the threads? the last bullish 2 close reversal was 3/15, the wednesday of the last triple witching expiration week. The SPX climbed 135 points to its alltime high in the next 7 sessions.<<

To: Wildstar who wrote (2177)	6/14/2000 4:48:00 AM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 33421

Guilty as charged...<g> I guess my sentiment changed as quickly as the markets changed... but, you know, you actually raise a very interesting and noteworthy point about our perception of these markets, investor sentiment, and market behavior in general... I believe, in fact, this is exactly what produces an outside key reversal day in these markets in the first place, a sudden and drastic change of sentiment from one direction to another... charts reflect nothing more than the sentiment of the masses... heck, if this keeps up, I'll just have to change my nick name to Outside Key Reversal.....<g> GZ