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

To: Lee Lichterman III who wrote (11221)	4/16/1999 11:27:00 AM
From: donald sew	Respond to of 99985

Lee, Im still catching up on some reading and only got your previous post this morning. That "HAMMER" you saw on the NAZ perplexed me. I have not seen a HAMMER of that size arrive so fast after a short-term peak. By the text-book it should have been a reversal to the upside, in light of the significant selloff, but since it occured only 2 days after a peak it could have been a HANGING MAN, although there was a strong selloff the day before. I believe this is an example of how the option expiration and possibly the IRA $$$ are skewing things. It was the size of the HAMMER that confused me. Now the LOW of that HAMMER or HANGING MAN should be a support line. If those lows are broken to the downside it was a HANGING MAN not a HAMMER. On the other hand if those lows hold then it was a HAMMER. Seeya