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

To: Gersh Avery who wrote (10799)	4/13/1999 11:17:00 AM
From: Patrick Slevin	Respond to of 99985

The Pattern has already changed from yesterday as yesterday had it's Low at 9:30 High at 15:10 (All my timing data is based on whatever the current front month is on the spoo, so if you are keying off the DJIA or anything else we won't have similar sets). I was disappointed not to see the market take out the early spoo High at 1372 because it throws the Dominant Long pattern into question but by chance it failed there right after the 11 EST time frame which was patterned for a choppy motion anyway. As Long as the Low holds the Long Pattern is still Dominant, from what I look at anyway. < The most common pattern, lately, for INTC earnings has been for the stock to run up into the earnings report then to pull back to some option strike price> When I used to trade Options that seemed to be the Order of The Day for just about any NASD stock and OEX as well during Expiration Week but it's been awhile. I anticipate that whatever the Market is doing going into the Late Innings today it will reverse......the taste of the Compaq news on the Market on Monday morning won't be forgotten that quickly......just a guess. EDIT I am also disappointed that the 72 High was not crested as I was Long and could have used the Spike for extra funds as April the 15th must be coming up....I'm almost positive.