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

To: StockOperator who wrote (7027)	2/25/1999 10:19:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I still disagree. It is like trading throughout the day during a sell off. How many times have you seen a day where the market sells off hard all day with a TRIN around 2 and a -500 TICK then in the last 5 minutes, the TICK swings to plus 1000 and the indexes all shoot up to where they started the day. The J6P hears on the radio as he drives home from work or on the 10:00 news that the DOW ended the day flat and thinks all is well. Your statement that the end as it reads into the trend implies the market is flat yet a boatload of shares were dumped. IF we sell off hard today, I wouldn't be at all suprised to see tomorrow up as that is how my J6P indicator generally works although it will conflict with Don's read which is more reliable. My J6P indicator is nothing more than a label applied to conspiracy theories <ggg> I feel Advance/Decline and A/D volume especially speaks more of true MM intentions. It is the same as a hollow run up, on the surface everything looks good but underneath it is ugly. Don't get me wrong, I use weekly and monthly charts also and to somewhat agree with what you say feel the weekly candlestick pattern can show a lot but I also weigh that with the daily and intraday charts. The weekly shows the long term trend ut won't get you in or out in time. The daily and intraday charts get you out and in closer to the tops and bottoms. PS - The weekly charts haven't looked too great lately either. Good Luck Lee

To: StockOperator who wrote (7027)	2/25/1999 8:04:00 PM
From: Richard Ruscio	Read Replies (1) \| Respond to of 99985

Thank you for your insights. But I do have one question about this Friday thing: Why is COB Friday any different than any other weekly single point in time - 2:35 PM on Tuesday, for example. You'll still see the long term trend, still see on average the same weekly differences as on Friday, and generally get all the same weekly cyclical behaviour. Granted, you don't get 2 days of uncertainty with a closed market on weekends. Again, thank you for your posting. I'm learning a lot. Hope you like teaching !! rr