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To: MonsieurGonzo who wrote (32452)	1/8/1998 9:43:00 AM
From: Esteban	Respond to of 58727

Se¤or Steve, The evening star on SPY is compromisied by the fact that the first day is not a long white day in the trend direction but more hanging man like, so perhaps it's not valid as a longer term (more than we already have had) reversal pattern. Yesterday looks like a weak hanging man with a bit more upper shadow than I'd normally like to see. Ignoring the overnight Asia action I'd say upside reversal here. I'd wait for the early weakness from the Asia contagion to play out, then go long. The candlesticks are not giving a clear picture at this point. Personally, I'd be cautious with NSM. The doji hammer was made on a downside breakout, and is only reversing two down days. I guess you could trade it as a failed breakout. Close stop for this one. Esteban