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


To: Wayners who wrote (61518)10/28/2000 9:39:25 AM
From: flatsville  Read Replies (1) | Respond to of 99985
 
Wayne--

I'm not seeing the same thing you are.

stockcharts.com

litwick.com

How to Identify it

First day is a long white day
Second day is black with an open above the high of the previous day
Second day closes within but below the midpoint of the first day’s body

May 24th and 25th certainly looks like a textbook Dark Cloud Cover.

Yesterday's candle didn't quite close within OR below the midpoint of the first day’s (Oct. 26 th ) body which is necessary to call it a Dark Cloud Cover pattern. First day isn't really a long candle either.

Is there an identifiable pattern to the last couple/few of days? Anyone?



To: Wayners who wrote (61518)10/28/2000 12:49:38 PM
From: Les H  Respond to of 99985
 
The market looks more like April when the Dow took off and left the Nasdaq in a cloud of dust. The best way to describe yesterday for the Nasdaq is lack of follow-through for a reversal day on Thursday. A nonconfirmation is a negative and normally indicates a retest.