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

To: OX who wrote (61036)	10/20/2000 6:42:17 AM
From: Doo	Read Replies (1) \| Respond to of 99985

10/19 is not a "follow through day" on any major index whether you use 10/13 as the low or 10/18. The simple reason is that yesterday's volume did not exceed 10/18 volume. It shows lower on every chart and data source I watch, including the OX-ometer. :) I use a 5 day intraday low to begin the count for follow through, so the window does not open until next Tuesday. Many will say the 10/13 low is preserved for follow through count because the low was not taken out on a closing basis. Back-tested data will show that the 5 day intraday low, if confirmed by follow through action, is most reliable for determining IT bottoms. But, even using 10/13, and even though 10/19 was day 4, volume was not sufficient. No signal.