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

To: HairBall who wrote (55964)	7/3/2000 12:07:15 PM
From: Saulamanca	Respond to of 99985

LG, FWIW, In the older version "TA of the Futures Market" John Murphy talks about the diamond pattern, but in the updated version "TA of the Financial Markets" it is not included. In Murphy`s opinion, the diamond is not a particularly reliable pattern. INDU <---- Trading back inside the Diamond Patttern. (Way to much is being made of this pattern. I wonder how many times this pattern has actually occurred on the chart of a major index and broken to what is being called the norm. Has this occurred enough times with the expected break to make it statiscally credible...does anyone know the answer?) --Jim