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 Strategies & Market Trends : MDD - Market Direction Discussion

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To: LG who wrote (32689)11/7/1999 10:03:00 PM
From: Steve Huskey of 84056
 
Well, it seems natural to take a move down here at least for 1-2 days.

The candlestick pattern that may form from such a move though is disturbing . I'm no candlestick expert, but there are one or two signals that get my attention. If Spoo goes below 360 and closes down, we will have an "evening star".

This is the most bearish of all signals.

If the price goes down and rebounds into the afternoon, or just opens down and rallies (which would be the inverse of the price action last week)... that will be not as bad.

With the Microsoft deal we may have a bad moon rising.
I hope it is not an omen.

Steve
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