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

To: Steve Swanson who wrote (9889)	4/5/1999 8:20:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

Steve, You are correct, and that is also in line with the research I did with the DOW per my latest index update. Since this MARUBOZU is not at the beginning or near the beginning/midway of an upswing, I would consider it as an exhaution type of move and could reverse as soon as tomorrow. There is also a liklihood that tomorrow could gap up first and if it does not start reversing significantly then a doji could form, which would be a SHOOTING STAR(with the gap). and if the following day also gaps to the downside it would be an ABANDONED BABY and thats a strong reversal signal. Hope I was of help. seeya

To: Steve Swanson who wrote (9889)	4/5/1999 10:09:00 PM
From: Jack Luo	Read Replies (2) \| Respond to of 99985

Steve, AOL has touched its upper bond of a price channel which has been in the formation since the early march. Currently, its RSI is above 85 and Stochastics is above 90. Last time that it touched the channel ceiling with this condition, it dropped $9 the next day and had two consecutive down days. This might support your White Marubozu signal of reversal. But I wouldn't bet on this because with current panic buying mode, it's very hard to predict what will happen tomorrow. Regards, Jack