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Pastimes : CHEERS TO CHARLES DOW -- Ignore unavailable to you. Want to Upgrade?

To: Eddy Blinker who wrote (91)	5/26/2002 7:55:33 PM
From: MechanicalMethod	Read Replies (3) \| Respond to of 148

The interesting thing about thurs. is it was an outside bar that closed higher than c[1] thus signaling exhaustion of the downthrust but the intraday chart shows it actually broke H[1] first and resumed the downthrust breaking below L[1] and then recovered to c>c[1] which at that point no longer had weight as a reversal signal. IOW, at first glance thurs. looks like a buy signal but looking closer it's not. At this point any upthrusts will be contra-trend swings because of the recent lower lows and lower highs.