the 1/28 and the 1/29 candles and the volumes?

those two look quite significant: with the dramatic volume change and price action. talk to me, please, about what those two mean together and in the context of the uptrend since 1/20.

those two look quite significant: with the dramatic volume change and price action. talk to me, please, about what those two mean together and in the context of the uptrend since 1/20.

Island top Reversal/Bearish evening star...Its an extremely strong reversal indicator. Means trend has changed.

so, for confirmation: what would be needed tomorrow?

take a look at the charts on my blog tonight. I didn't use candles but you'll get the drift. Has been pretty dire over the past few months... mm

Bad news was used to fill gaps on NASDAQ related indices. Less volume today than yesterday, at least on SPY, which I checked earlier. All indicators still on a buy signal. A reversal? Not yet. An island reversal? You'd need a gap down tomorrow to generate that. Evening star? Not even close.

http://www.onlinetra...veningStar.html

U.F.O.

Edited by U.F.O., 29 January 2009 - 10:16 PM.

AmericanBulls.com

DJIND:
Today a Black Candlestick was formed. This represents normal selling pressure.
The last two candlesticks formed a Bearish Engulfing Pattern . This is a bearish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.
Our system posted a SELL-IF today. The previous BUY recommendation was issued on 01.27.2009 (2) days ago, when the index value was 8,117.4. Since then DJIND has gained 0.39% .

S&P 500 and NYSE:
Today a Black Opening Marubozu was formed. This shows that the day opened and prices continuously went down but they did not close at the low of the day and thus they created a lower shadow.
It is a strongly bearish candlestick pattern.
Our system posted a WAIT today. The previous SELL recommendation was issued on 01.22.2009 (7) days ago, when the index value was 839.7. Since then SP500 has gained 0.64%. Our WAIT tag says all that is to say. Stay at cash or check the other stocks while waiting the next signal. Though the prices are up since our previous SELL signal, it is yet too early for any definite long or short action in this index .

thanks for your responses, folks. i'll check back later for/if more. good night mrs. calabash, wherever you are ... ™

Edited by humble1, 29 January 2009 - 10:21 PM.

RD, American Bulls needs to go back to chart school. This is what a "bearish engulfing" chart pattern looks like.

http://www.onlinetra...hEngulfing.html

Granted, this was one, ugly red stick, but a classic bearish engulfing...nada.

U.F.O.

Yeah, I thought that was strange.
But notice that they don't call it an engulfing candle, they call it a Bearish Engulfing Pattern
in as much as Wednesdays rally was rejected with a lower close than the previous day.
Putting the two together forms the "Pattern" but "its reliability is not very high and it requires confirmation"

Any closes below some of my lines will get my attention.
Sentiment went from 85% bulls yesterday to 55% tonight.
Fairly low closing tick & sentiment looks a bit like Jan 7th.
Jan 8th tomorrow?

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p48845342763&a=95529637&r=7217.png

Edited by Rogerdodger, 29 January 2009 - 10:57 PM.

those two look quite significant: with the dramatic volume change and price action. talk to me, please, about what those two mean together and in the context of the uptrend since 1/20.

Humble,

Rodger's site is correct. It's not a really potent pattern, and you need confirmation. At the present moment it's just a big ole s*tty black candle cancelling out the nice white candle. Think of two big fighters of equal weight and strength duking it out.

It's definitely not an engulfing pattern and it is most definitely NOT a doji, or evening star.

Nissan,the man who purportedly bought candlestick theory to the west, stated (in his first book, I believe) that when the Japanese see something like this they step aside until they see which side wins.

Deva

Edited by dowdeva, 29 January 2009 - 10:52 PM.