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A Fish Hook is a pattern that forms in the McClellan Summation Index. It is a
small and short lived up move in the index prior to a big down move. See the
inserted gif file for a few examples. Think of it as a 2nd wave before the
3rd wave in a down move.
John Dundee wrote:
On todays update Sherm McClellan indicated the market was making a fish
hook formation. Can anyone explain what this pattern is and what it
foretells?
Thanks
Attachment Converted: "c:\eudora\attach\FISHHO~1.GIF"
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