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At 11:33 PM 2/25/98 +0000, Robert wrote:
>> Can anyone offer an insight into what is happening physically in the
>> marketplace when the market takes a long pause like today?
>>
It was a classic L. Raschke 'ledge' formation on the five minute bar. Often
shows following a sharp rally or selloff. It's a fairly reliable daytrading
set-up pattern. Supposed to indicate short term equilibrium between supply
and demand. Sets up a break out trade, either way, off the ledge. Tape
action today on CCO, TICK and TICKI provided a clue that the break would
come to the upside. I agree with John B. that it likely started today with
eyes and ears being on Greenspan.
Michael Paauwe
mpaauwe@xxxxxxxxxx
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