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


To: bobby beara who wrote (7001)2/24/1999 11:20:00 PM
From: Jorj X Mckie  Respond to of 99985
 
P&F chart for the dates you gave, does have some similarities. Hell of a fakeout though. Internal indicators never did turn positive though.

Thank god I stuck to my plan and didn't pitch all of my puts. Nasty little whipsaw.

It was a fakeout. Check out the NDX chart from 8/8/97 to 10/8/97, very similar pattern to the Dow from 1/8 to today, spread double top, with a fakeout failure to make new highs then kersplatt.



To: bobby beara who wrote (7001)2/25/1999 2:26:00 AM
From: Moominoid  Respond to of 99985
 
It was a fakeout. Check out the NDX chart from 8/8/97 to 10/8/97, very similar pattern to the Dow from 1/8 to today, spread double top, with a fakeout failure to make new highs then kersplatt.

Take a look at the spike in the Oscillator just after 06/02/98 and the false bottoming of the summation at the same time.

decisionpoint.com

Looks very similar to me BWDIK

David