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#31 arbman

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Posted 23 July 2007 - 03:36 PM

This pattern is a bearish harami, isn't it? Especially when it occurs at the price exhaustion points... (the pattern on SPY)

#32 ogm

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Posted 23 July 2007 - 03:49 PM

This pattern is a bearish harami, isn't it? Especially when it occurs at the price exhaustion points...

(the pattern on SPY)


http://stockcharts.c...estick_bearish_

"The bearish harami is made up of two candlesticks. The first has a large body and the second a small body that is totally encompassed by the first. There are four possible combinations: white/white, white/black, black/white and black/black. Whether a bullish reversal or bearish reversal pattern, all harami look the same. Their bullish or bearish nature depends on the preceding trend. Harami are considered potential bearish reversals after an advance and potential bullish reversals after a decline. No matter what the color of the first candlestick, the smaller the body of the second candlestick is, the more likely the reversal. If the small candlestick is a doji, the chances of a reversal increase."


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#33 arbman

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Posted 23 July 2007 - 04:09 PM

I thought tomorrow would be more critical than today, we all knew probably. The way I see it is they are trying to land SPX on the 20 dma over the next 2 weeks. The downside then would be limited with its first standard deviation, or something like 1520-1525 range or the gap. The index already achieved this, so it would be a double bottom and bullish for the ST... There is a chance that the largest impulse remaining should come within a day or two (10-11 day, or 2.5 wk cycle). Any improvement over the next 2 sessions should mean limited or no downside and in fact more upside until the weekend. So, the index should tear apart the 20 dma or the gap support at 1520 over the next 2 sessions to amount to anything bearish in terms of establishing a down trend, then the next target would become 1490-1495 range. If you examine the last cyclical trend, the index spent only 3 days trending higher and 4 days consolidating and the last 2 sessions were so far came at the low side (within the 2.5 wk cycle). This is about 30% upside trending and generally a bearish development since the highs are a bit left translated, so there is a chance that tomorrow and Wed can still overshoot the lows a bit, but if it doesn't happen, it will not later than Wed for the short term at least... - kisa

#34 arbman

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Posted 23 July 2007 - 07:34 PM

Some mega-cap AH quotes... Texas Instruments down 3% (50B mcap) American Express down 2% (75B mcap) Halliburton up 0.3% (35B mcap)

#35 arbman

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Posted 23 July 2007 - 10:52 PM

Finally, we have very little changes on the MCOs tonight, especially no change on the nasdaq...

#36 NAV

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Posted 23 July 2007 - 11:02 PM

Finally, we have very little changes on the MCOs tonight, especially no change on the nasdaq...


Kisa,

I was just about to post that. Tommorow won't be a dull day for sure. With the market so thick with bears, it doesn't take much fuel....

And lastly, the titanic is still floating, but getting to a vulnerable zone.

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#37 arbman

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Posted 24 July 2007 - 12:04 AM

With the market so thick with bears, it doesn't take much fuel....


Are you looking at our little perma-bear polls? :lol:

The option traders were pretty bullish today though...

There were some huge call volume at the close...

The ticker sense guys must be reading this board too;

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- kisa

#38 arbman

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Posted 24 July 2007 - 12:30 AM

Large caps reporting tomorrow (mostly in the morning hours)

With 246.81B market cap, probably the most important tomorrow is AT&T (symbol:T)...

#39 arbman

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Posted 24 July 2007 - 07:44 AM

Actually British Petrol (BP) is reporting today too among the big oils and down in the premarket (239B mcap), this is probably very important for the oil earnings from here. BNI (30B mcap) is reporting for the drillers and the group is extremely stretched, parabolic. The other large tech name is EMC (40B mcap), they are bidding it up since yesterday close, also up in the morning. The CountryWide (CFC) is getting beaten down in pre-market and yesterday day after the close after the American Express. The consumer stocks, Pepsi, Amazon, McDonald are also down in the premarket except for Lilly Eli. Military stocks reporting Lockheed Martin and Northrop are likely to do well, up in the premarket... Will USDX dip below 80 today?!? The currencies are down quite a bit in the morning... - kisa

Edited by kisacik, 24 July 2007 - 07:46 AM.


#40 arbman

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Posted 24 July 2007 - 08:09 AM

Actually forget about BNI, it is not in drilling, I got confused with the GSF, Global Santa Fe :blush: But GSF is down nearly 3% in the premarket... I like ROLL this morning for a long, it is extremely squeezed and ready to expand its range higher...

Edited by kisacik, 24 July 2007 - 08:08 AM.