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

To: Challo Jeregy who wrote (4936)	1/29/1999 7:32:00 PM
From: donald sew	Read Replies (3) \| Respond to of 99985

INDEX UPDATE ======================================= In the past I have used the term STAIR-STEP, where the intraday highs were close to each other. We had 2 STAIR-STEPs during the pullback last year in AUG and SEPT before a strong selloff. This one is of similar form/time frame. Will the forthcoming pullback be a big pullback as we had last AUG/SEPT - I dont know, but it makes one think. Statistically it is not viable since there were only 2 repeated patterns. A pattern needs to occur about 32 times before being considered statistically viable, in order to derive probability. Starting from JAN 14, here are the intraday highs for the last 11 trading days: 9359 9343 9399 9480 9377 9264 9203 9330 9386 9301 9383 Of these 11 days, 8 of them were in the 9300-9400. Only one day was above it and 2 days below it. We really have not gone anywhere to the upside during this period. IT WAS JUST YO-YO TIME. If this is not an example of ZIG-ZAGGING, I dont know what is. Seeya