http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p58665181250&a=156224337&r=8268.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=2000-04-01&en=2003-12-01&i=t58742280679&r=5705.png
Edited by hedgehawk, 10 February 2009 - 09:00 PM.
870 got rejected Shaq style
Started by
hedgehawk
, Feb 10 2009 08:50 PM
7 replies to this topic
#1
hedgehawk
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Posted 10 February 2009 - 08:50 PM
All this rally talk was making me nauseous. ES got rejected from 870 Shaq style. Here is what I am watching, weekly close above 870 is bullish, bearish below end of story. 13 weekly EMA is the real deal. When the 13 weekly EMA crosses up over the 34 weekly EMA the bear market is over just like last time.
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p58665181250&a=156224337&r=8268.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=2000-04-01&en=2003-12-01&i=t58742280679&r=5705.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p58665181250&a=156224337&r=8268.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=2000-04-01&en=2003-12-01&i=t58742280679&r=5705.png
#2
dcengr
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Posted 10 February 2009 - 09:38 PM
I keep telling people who try to use patterns that its not sufficient that pattern itself only match.
The underlying items, breadth, sentiment, etc. should also match.
Qui custodiet ipsos custodes?
#3
thespookyone
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Posted 10 February 2009 - 09:50 PM
It did, Hedge. But it looked like a LeBron power move to the hoop going the other way (SOUTH).
#4
Data
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Posted 10 February 2009 - 10:41 PM
Evening star reversal candlestick pattern covering the last three days.
#5
U.F.O.
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Posted 10 February 2009 - 10:50 PM
No evening star on $SPX. Gotta have gaps on both sides of the day 2 candle. 2/06 to 2/09 didn't have one.
U.F.O.
http://www.onlinetra...veningStar.html
U.F.O.
http://www.onlinetra...veningStar.html
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~
~Benjamin Franklin~
#6
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Posted 10 February 2009 - 11:23 PM
You don't need a gap. That would make it an abandoned baby or island reversal.
#7
U.F.O.
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Posted 11 February 2009 - 08:34 AM
Show reference link please...like I did.
U.F.O.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~
~Benjamin Franklin~
#8
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Posted 11 February 2009 - 11:31 AM
excerpted from the book Japanese Candlestick Charting Techniques:
http://www.japanesec...ternsindex2.htm
If you search the text of the book (try Amazon for instance), the author discusses the presence/absence of the gap from the pattern. It's not required, although it would make for a more ideal pattern to have gaps in both directions as well as their bodies not touching (as in an island reversal). Some online definitions describe the pattern as having only one gap between the first two days to differentiate from the abandoned baby pattern.
http://www.japanesec...ternsindex2.htm
If you search the text of the book (try Amazon for instance), the author discusses the presence/absence of the gap from the pattern. It's not required, although it would make for a more ideal pattern to have gaps in both directions as well as their bodies not touching (as in an island reversal). Some online definitions describe the pattern as having only one gap between the first two days to differentiate from the abandoned baby pattern.
