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3 black crows


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#21 Modest Trader

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Posted 22 January 2005 - 01:53 PM

DJIA is playing catchup... here's the first set of crows from  early January...

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$nya,uu[m,a]daclyyay[da][pb50!b200][vc60][iub14!la12,26,9]&r=9350.gif

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That does appear to be typical of what happens with them buzzards, nice find.... :)

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Not three black crows at all for NYSE, a bullish inverted hammer. It's one thing to be good at being bearish, but you might want to stick with truly bearish charts when making your case.

Inverted Hammer

Beyond Candlesticks: New Japanese Charting Techniques Revealed,
by Steve Nison 

Posted Image

Pattern: reversal
Reliability: low/moderate

Identification
A small real body forms at the lower end of the trading range. The upper shadow is usually no more than twice as long as the real body and there is no or almost no lower shadow.

The Psychology
In a downtrend or during a pullback within an uptrend, the stock gaps down. A valid attempt is made to rally the stock off the bottom, but the strength subsides and the stock falls to close near the day’s low. The rally attempt failed, but it does suggest that there are some bulls out there looking to buy. For a reversal to occur a strong follow up day is needed with solid volume.

The bullish Inverted Hammer is similar to the bearish Shooting Star, bullish Gravestone Doji, and bearish Gravestone Doji and could become the middle day of the bullish Morning Star.



#22 Chart Guru Doug

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Posted 22 January 2005 - 01:53 PM

In fact there are crows nearly everywhere ....

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$sox,uu[m,a]daclyyay[da][pb50!b200][vc60][iub14!la12,26,9]&r=1537.gif

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I can't give that one a crow status, note the difference where the bodies open and close.

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are we looking at the last 3 candles ?

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No I wasn't
Ummmm, I guess the last tree are pretty close, as those last two are the worst type of sticks you can have( like friday's dji), even more miserable if in a uptrend....
I am not your registered investment advisor. This is not a recomendation to buy or sell. This is my opinion and that is all. I may be long or short any security and change my position at any given moment in time. Do your own due diligence before investing any of your own financial assets.

#23 SemiBizz

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Posted 22 January 2005 - 01:56 PM

DJIA is playing catchup... here's the first set of crows from  early January...

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$nya,uu[m,a]daclyyay[da][pb50!b200][vc60][iub14!la12,26,9]&r=9350.gif

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That does appear to be typical of what happens with them buzzards, nice find.... :)

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Not three black crows at all for NYSE, a bullish inverted hammer. It's one thing to be good at being bearish, but you might want to stick with truly bearish charts when making your case.

Inverted Hammer

Beyond Candlesticks: New Japanese Charting Techniques Revealed,
by Steve Nison 

Posted Image

Pattern: reversal
Reliability: low/moderate

Identification
A small real body forms at the lower end of the trading range. The upper shadow is usually no more than twice as long as the real body and there is no or almost no lower shadow.

The Psychology
In a downtrend or during a pullback within an uptrend, the stock gaps down. A valid attempt is made to rally the stock off the bottom, but the strength subsides and the stock falls to close near the day’s low. The rally attempt failed, but it does suggest that there are some bulls out there looking to buy. For a reversal to occur a strong follow up day is needed with solid volume.

The bullish Inverted Hammer is similar to the bearish Shooting Star, bullish Gravestone Doji, and bearish Gravestone Doji and could become the middle day of the bullish Morning Star.

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Early January MT see above.

Edited by SemiBizz, 22 January 2005 - 01:57 PM.

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#24 Modest Trader

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Posted 22 January 2005 - 01:57 PM

My mistake noted, SB.

#25 SemiBizz

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Posted 22 January 2005 - 01:59 PM

Good discussion today... let's see if we can draw some conclusions now, based on looking at some past chart patterns....Personally, I think that INTC pattern from 7/15/04 says a lot.... Certainly goes a long way into explaining why INTC can't get into that gap very far... somebody please post a chart for me... TIA SB

Edited by SemiBizz, 22 January 2005 - 02:00 PM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#26 A-ha

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Posted 22 January 2005 - 02:00 PM

BTW
can anybody find three black crows and a rally on the indu chart? Be sure the last crow closes on/near its lows.....

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i got this but both cases have mini capitulation on the next day or two before reversal.
Posted Image

#27 Chart Guru Doug

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Posted 22 January 2005 - 02:06 PM

BTW
can anybody find three black crows and a rally on the indu chart? Be sure the last crow closes on/near its lows.....

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i got this but both cases have mini capitulation on the next day or two before reversal.
Posted Image

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Those are close but I think one of the most important things for the crows is the close near the lows. A couple of those sticks have tails on the bottom...Point well taken though...
The trouble with my indu chart is that the daily sticks all have tails on them once I go back several years. I believe this is for adjustments to the index.
thanks
I am not your registered investment advisor. This is not a recomendation to buy or sell. This is my opinion and that is all. I may be long or short any security and change my position at any given moment in time. Do your own due diligence before investing any of your own financial assets.

#28 SemiBizz

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Posted 22 January 2005 - 02:16 PM

As I noted earlier on the SOX, we have a crescendo of volume. The latest set of 3 black crows doesn't look to me to be anywhere near a selling climax. Steady increases in volume as we scale lower and lower... Here's the SOX chart with volumes...

SOX CHART w/Volumes - 3 Black Crow Crescendo
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

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#29 Modest Trader

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Posted 22 January 2005 - 02:21 PM

As I noted earlier on the SOX, we have a crescendo of volume.  The latest set of 3 black crows doesn't look to me to be anywhere near a selling climax.  Steady increases in volume as we scale lower and lower...  Here's the SOX chart with volumes...

SOX CHART w/Volumes -  3 Black Crow Crescendo

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SB,

Am I wrong, or isn't it usually the case that the so-called momentum bottom with your crescendo volume usually precedes the price bottom on lessening volume as the selling is clearly drying up? If so, we had the high volume momentum bottom last week and are now having the lower volume price bottom this past week and possibly into early next week.

MT

#30 SemiBizz

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Posted 22 January 2005 - 02:26 PM

As I noted earlier on the SOX, we have a crescendo of volume.  The latest set of 3 black crows doesn't look to me to be anywhere near a selling climax.  Steady increases in volume as we scale lower and lower...  Here's the SOX chart with volumes...

SOX CHART w/Volumes -  3 Black Crow Crescendo

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SB,

Am I wrong, or isn't it usually the case that the so-called momentum bottom with your crescendo volume usually precedes the price bottom on lessening volume as the selling is clearly drying up? If so, we had the high volume momentum bottom last week and are now having the lower volume price bottom this past week and possibly into early next week.

MT

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Wyckoff said tops and bottoms are not made on volume... that's my take... from a relative perspective, we're still developing mo .. volume that is... so perhaps when we can tick under this on some lighter volume day we can reverse it....

Take a look at July INTC and see if you can draw any conclusions...

Edited by SemiBizz, 22 January 2005 - 02:29 PM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics