Replies to post #8046 on MDA - Market Direction Analysis (MDA)

[chichi2]

Or was 2.83 a One Day Anomaly? which is probably what it was, as yesterday's volume was light. i plan to watch closely next week but at this moment, personally i am still bullish.

[augieboo]

ChiChi, take a look at the news. Yesterday some clown at the CBOT accidentally sold 10,000 contracts (instead of the intended 100 contracts) in the Dow mini futures pit. The normal volume in that pit is 28,000 per day, so this was about a 40% increase, and spiked the market downward.

The relevance is that 29 of the 30 dow stocks are in the OEX, so when the DOW spiked down so did the OEX, and so did the OEX futures. No inversion, in other words, just a clerical screwup.