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Chart Guru Doug
but fridays stick was just as bad....here are charts for comparisions...
eminimee
Doug...have you got a link for an explanation of the pattern please.
cheers
Modest Trader
Not just three crows, but three identical black crows. While coming off the high, they are clearly very bearish, when they occur some time after the decline is already well underway, many times they are signs of selling exhaustion. So, while they may be signaling more selling to come, the reliability is not nearly as high as when they come right after the top.
Sentient Being
Nison: If there are three declining consecutive black candlesticks it is called three black crows pattern. The three black crows presage lower prices if they appear at high-price levels or after a mature advance. Three crows are also soemtimes called three winged crows. ......... The three lines should close at, or near, their lows. Each of the openings should also be within the prior session's real body. The analyst swould also like to see the real body of the first candlestick of the three crows under the prior white session's high.
----------------------------------------------------------------------

I guess crows are found hanging around meat about to die!?
Rogerdodger
"Be very alert when you see three black crows appear on a chart. Their appearance indicates a period of powerful selling pressure. If on the fourth day the stock cannot gather strength, then lower prices are likely ahead."
Here's a good overview of "3 black crows:" Streetauthority.com

It is a reversal pattern rather than a continuation pattern.

The NDX is different after the Thursday gap down. Here is my wish for you bulls for Monday & Tuesday: AN ISLAND!
BUT, don't get your hopes up. The 50% retrace & 200DMA are just below @ 36.18 QQQQ or 1468 NDX.
Modest Trader
QUOTE
The three black crows candle formation does not happen very frequently in stock trading, but when it does occur swing traders should be very alert to the crow's caw.

The candlestick pattern's metaphor is three crows sitting in a tall three. Essentially, it is a reversal formation that occurs following a strong advance.........Be very alert when you see three black crows appear on a chart. Their appearance indicates a period of powerful selling pressure. If on the fourth day the stock cannot gather strength, then lower prices are likely ahead.


That's why Monday's trading will be extremely pivotal. If the market moves big in one direction or the other on heavier volume than Friday, the direction of the next 1-2 week's trading will become self-evident. However, as noted earlier, the three black crows have occurred well into this decline, and not at or just after the top as suggested in the commentary. Following this pattern as a low risk new short entry is not advisable. That's not to say that selling won't continue, but the odds have started to turn in favor of this being nearer the end of the decline rather than closer to the beginning.
Chart Guru Doug
quote]

That's why Monday's trading will be extremely pivotal. If the market moves big in one direction or the other on heavier volume than Friday, the direction of the next 1-2 week's trading will become self-evident. However, as noted earlier, the three black crows have occurred well into this decline, and not at or just after the top as suggested in the commentary. Following this pattern as a low risk new short entry is not advisable. That's not to say that selling won't continue, but the odds have started to turn in favor of this being nearer the end of the decline rather than closer to the beginning.
*

[/quote]

The blackbirds on the other charts came well into the declines. Here is a chart of 2002 showing the the index had already started to decline before the crows showed up.
By looking at these charts, I doubt we can put much weight on mondays move as it looks almost inevitable that there would be some type of price higher then Fridays close. I think one of the most noteable things here is that a consolidation that hangs out at these lows and then breaks down should bring on some strong selling but we also would not need the consolidation.

One other difference on the recent chart is the the major ma's are not tilted down as strongly, this is because this selling is closer to price highs then in a already established downtrend.
cheers
entropy
Nicely spotted Doug.

FWIW According to my copy of Stephen Bigalows Candlestick Trading, he has some more detail on the pattern -

He differentiates two versions of the pattern -
1. Three blacks crows - having higher OPENS that previous closes i.e. bodies should overlapp visibly.
2. Three identical crows (doji sanba garasu)- where the OPEN is at the very near the exact close.

What we have in all the above is by his definition (2) and is more bearish according to Bigalow because -
"the selling is more severe, there do not appear to be any buyers at the next days open".

This agree's with the EW count that has potential for a wave 3 of (3 or C) here as i said at the close Friday.

That doesn't mean it IS, its just the price patterns have a higher risk of that now, than if these patterns hadn't setup -its all probabilities that all.

What's more to the point, is none of these patterns support the idea of a swing bottom being in at low friday, so why risk being caught in a big gap down monday - why not wait to at least see how price opens, as odds favour a low retest and lower risk entry next week no matter what.


Mark.
Modest Trader
[quote=Chart Guru Doug,Jan 22 2005, 11:29 AM]
quote]

That's why Monday's trading will be extremely pivotal. If the market moves big in one direction or the other on heavier volume than Friday, the direction of the next 1-2 week's trading will become self-evident. However, as noted earlier, the three black crows have occurred well into this decline, and not at or just after the top as suggested in the commentary. Following this pattern as a low risk new short entry is not advisable. That's not to say that selling won't continue, but the odds have started to turn in favor of this being nearer the end of the decline rather than closer to the beginning.
*

[/quote]

The blackbirds on the other charts came well into the declines. Here is a chart of 2002 showing the the index had already started to decline before the crows showed up.
By looking at these charts, I doubt we can put much weight on mondays move as it looks almost inevitable that there would be some type of price higher then Fridays close. I think one of the most noteable things here is that a consolidation that hangs out at these lows and then breaks down should bring on some strong selling but we also would not need the consolidation.

One other difference on the recent chart is the the major ma's are not tilted down as strongly, this is because this selling is closer to price highs then in a already established downtrend.
cheers
*

[/quote]

As IYB has noted many times, it all depends on whether we are in an IT decline, or just a correction in an IT uptrend. In 2002, in the chart you picked out, we were clearly in an IT decline, no one could argue any different on that. But now, the jury is still out as to whether we have started an IT decline, or as IYB and a few of us others believe, this is just a very scary correction in an IT uptrend. If the former, much lower prices are straight ahead, and if the latter, new highs in 2-4 weeks should be expected.
Chart Guru Doug
QUOTE
That doesn't mean it IS, its just the price patterns have a higher risk of that now, than if these patterns hadn't setup -its all probabilities that all.

What's more to the point, is none of these patterns support the idea of a swing bottom being in at low friday, so why risk being caught in a big gap down monday - why not wait to at least see how price opens, as odds favour a low retest and lower risk entry next week no matter what.


Mark.

Very well put Mark, must be that name "Mark" biggrin.gif
QUOTE
As IYB has noted many times, it all depends on whether we are in an IT decline, or just a correction in an IT uptrend. In 2002, in the chart you picked out, we were clearly in an IT decline, no one could argue any different on that. But now, the jury is still out as to whether we have started an IT decline, or as IYB and a few of us others believe, this is just a very scary correction in an IT uptrend. If the former, much lower prices are straight ahead, and if the latter, new highs in 2-4 weeks should be expected.

Well, at what point do you not call this a correction?
I am just noting that several of the jury members have already voted. Maybe the others can sway them back, I dunno...... Certainly I can understand buying support and then just cutting it if it doesn't get going, same as shorting at top and cutting it if it gets going. I am for whatever makes you money.
cheers
A-ha
Nice candels but you scaring me man ...
Nasdaq is sitting on 20 week MA (2030) that usualy provides a strong support, at least for a bounce

Chart Guru Doug
QUOTE (xD&Cox @ Jan 22 2005, 12:17 PM)
Nice candels but you scaring me man ...
Nasdaq is sitting on 20 week MA (2030) that usualy provides a strong support, at least for a bounce 

By looking at these charts, I have to agree that a bounce is likely, probably a low risk trade if entered Monday. I think Mark put it quite well above....
Either way, I get a feeling you will handle it skillfully! smile.gif
Chart Guru Doug
BTW
can anybody find three black crows and a rally on the indu chart? Be sure the last crow closes on/near its lows.....
SemiBizz
DJIA is playing catchup... here's the first set of crows from early January...

[img]http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$nya,uu[m,a]daclyyay[da][pb50!b200][vc60][iub14!la12,26,9]&r=9350.gif[/img]
Chart Guru Doug
QUOTE (SemiBizz @ Jan 22 2005, 12:29 PM)
DJIA is playing catchup... here's the first set of crows from  early January...

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

That does appear to be typical of what happens with dem buzzards, nice find.... smile.gif
SemiBizz
In fact there are crows nearly everywhere ....

[img]http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$sox,uu[m,a]daclyyay[da][pb50!b200][vc60][iub14!la12,26,9]&r=1537.gif[/img]
SemiBizz
Bearish patterns are something I understand cool.gif


bear.gif bear.gif bear.gif bear.gif laugh.gif
SemiBizz
My apologies for my lack of IT skills, but if one of you fine gentlemen pull up the daily on INTC, you'll see 3 crows starting on 7/15/04... I think you'll get a good idea of what the implications are for the pattern...


Thanks


SB
Chart Guru Doug
QUOTE (SemiBizz @ Jan 22 2005, 12:36 PM)
In fact there are crows nearly everywhere ....

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

I can't give that one a crow status, note the difference where the bodies open and close.
SemiBizz
QUOTE (Chart Guru Doug @ Jan 22 2005, 01:49 PM)
QUOTE (SemiBizz @ Jan 22 2005, 12:36 PM)
In fact there are crows nearly everywhere ....

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

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




are we looking at the last 3 candles ?
Modest Trader
QUOTE (Chart Guru Doug @ Jan 22 2005, 12:35 PM)
QUOTE (SemiBizz @ Jan 22 2005, 12:29 PM)
DJIA is playing catchup... here's the first set of crows from  early January...

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

That does appear to be typical of what happens with dem buzzards, nice find.... smile.gif
*



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.

QUOTE
Inverted Hammer

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



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.
Chart Guru Doug
QUOTE (SemiBizz @ Jan 22 2005, 12:50 PM)
QUOTE (Chart Guru Doug @ Jan 22 2005, 01:49 PM)
QUOTE (SemiBizz @ Jan 22 2005, 12:36 PM)
In fact there are crows nearly everywhere ....

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

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




are we looking at the last 3 candles ?
*


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....
SemiBizz
QUOTE (Modest Trader @ Jan 22 2005, 01:53 PM)
QUOTE (Chart Guru Doug @ Jan 22 2005, 12:35 PM)
QUOTE (SemiBizz @ Jan 22 2005, 12:29 PM)
DJIA is playing catchup... here's the first set of crows from  early January...

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

That does appear to be typical of what happens with dem buzzards, nice find.... smile.gif
*



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.

QUOTE
Inverted Hammer

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



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.

*




Early January MT see above.
Modest Trader
My mistake noted, SB.
SemiBizz
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
A-ha
QUOTE (Chart Guru Doug @ Jan 22 2005, 01:24 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.....
*


i got this but both cases have mini capitulation on the next day or two before reversal.
Chart Guru Doug
QUOTE (xD&Cox @ Jan 22 2005, 01:00 PM)
QUOTE (Chart Guru Doug @ Jan 22 2005, 01:24 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.....
*


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

*


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
SemiBizz
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
Modest Trader
QUOTE (SemiBizz @ Jan 22 2005, 01:16 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
*


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
SemiBizz
QUOTE (Modest Trader @ Jan 22 2005, 02:21 PM)
QUOTE (SemiBizz @ Jan 22 2005, 01:16 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
*


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
*



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...
Modest Trader
QUOTE (SemiBizz @ Jan 22 2005, 01:26 PM)
QUOTE (Modest Trader @ Jan 22 2005, 02:21 PM)
QUOTE (SemiBizz @ Jan 22 2005, 01:16 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
*


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
*



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....
*



You just lost me again. We've just ticked lower, about only three points on SOX, from the prior week's low, on signficantly lower volume (about 20% lower daily volume on SMH this week from prior week, which should approximate SOX volume), and positive divergences on the NAMO, RSI, CCI, MACD, you name it, and still you still think that momentum is increasing and not decreasing? Please explain.
Modest Trader
Regarding INTC in July, you clearly had INTC ready to break down as it was in a bearish wedge off of a major top. Whereas now INTC is in a bullish wedge off a major bottom, and I think ready to close that July gap by the end of April, if not much earlier.
SemiBizz
QUOTE (Modest Trader @ Jan 22 2005, 02:33 PM)
QUOTE (SemiBizz @ Jan 22 2005, 01:26 PM)
QUOTE (Modest Trader @ Jan 22 2005, 02:21 PM)
QUOTE (SemiBizz @ Jan 22 2005, 01:16 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
*


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
*



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....
*



You just lost me again. We've just ticked lower, about only three points on SOX, from the prior week's low, on signficantly lower volume (about 20% lower daily volume on SMH this week from prior week, which should approximate SOX volume), and positive divergences on the NAMO, RSI, CCI, MACD, you name it, and still you still think that momentum is increasing and not decreasing? Please explain.
*



Once again, last 3 candles on SOX, increasing volume... We've had this discussion before about volume... to me, as a Wyckoff trader, volume means everything....

There WAS a bullish aspect to getting under the lows on lower volume, however the BEARISH aspect is that increasing volume and price erosion.. big RED FLAG. We would have liked to see the price tick under and present a reversal candle on low volume, and that did not happen... (i.e. no more sellers at the bottom)

That volume has to lighten up, get under the price, then we will be good to go back up and test the tops of the candles from the high volume days....
securelstmile
If you step away from the dow and look at the nas you will see a chart that looks like every st bottom last year. There were many exhaution gaps down some followed with new breakaway gaps up leaving an island. Some did not leave an island but the exhaustion gap remained.

I honestly think the nas will lead the dow.

Also, everyone is touting the head and shoulders in the dow. I remember the h and s in oil with the broken neckline recently before it ramped higher.
Modest Trader
QUOTE (securelstmile @ Jan 22 2005, 02:07 PM)
If you step away from the dow and look at the nas you will see a chart that looks like every st bottom last year. There were many exhaution gaps down some followed with new breakaway gaps up leaving an island. Some did not leave an island but the exhaustion gap remained.

I honestly think the nas will lead the dow.

Also, everyone is touting the head and shoulders in the dow. I remember the h and s in oil with the broken neckline recently before it ramped higher.
*


I agree, but we will really need some type of good news-out-of-the-blue catalyst to get things going this week, and by definition we can't know what that might be. NOK gave it to us back in September, but they don't report until Thur. morning. Can CSCO, AMAT or DELL pre-announce good earnings (they are on a Nov-Jan quarter)? I kind of doubt it.
Rogerdodger
I see black crows. They're everywhere!
BearItch
QUOTE (Chart Guru Doug @ Jan 22 2005, 02:06 PM)
QUOTE (xD&Cox @ Jan 22 2005, 01:00 PM)
QUOTE (Chart Guru Doug @ Jan 22 2005, 01:24 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.....
*


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

*


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
*



Those are accelerating crows in that post. You can see the bodies increase in size on the decline. Those are capitulation crows in my book. The ones we have now on the indu are not as severe which may not be as bullish. For a good example of crows at work this year, see the RUT 2000. Yes, there are some issues with the overlap but the market does not read candle books.
Sentient Being
That seems to be a given in candles. You are trying to get at the psychology of the market and formations will not often be perfect. But a near miss will share the same general psychology.
BearItch
QUOTE (Sentient Being @ Jan 22 2005, 07:00 PM)
That seems to be a given in candles.  You are trying to get at the psychology of the market and formations will not often be perfect.  But a near miss will share the same general psychology.
*


Absolutely, sometimes you get crow like patterns with the same result.

More important than the crows on the INDU are the ones registered on Friday for the Wilshire 5000 ($WLSH). BTK had them as well.
dcengr
QUOTE (Modest Trader @ Jan 22 2005, 12:16 PM)
QUOTE (securelstmile @ Jan 22 2005, 02:07 PM)
If you step away from the dow and look at the nas you will see a chart that looks like every st bottom last year. There were many exhaution gaps down some followed with new breakaway gaps up leaving an island. Some did not leave an island but the exhaustion gap remained.

I honestly think the nas will lead the dow.

Also, everyone is touting the head and shoulders in the dow. I remember the h and s in oil with the broken neckline recently before it ramped higher.
*


I agree, but we will really need some type of good news-out-of-the-blue catalyst to get things going this week, and by definition we can't know what that might be. NOK gave it to us back in September, but they don't report until Thur. morning. Can CSCO, AMAT or DELL pre-announce good earnings (they are on a Nov-Jan quarter)? I kind of doubt it.
*



If the bulls can hold on til thursday, then MSFT will surely bring some good news. Intel + Dell forecast shows Microsoft will be a big winner, and it makes up a whopping 8% of the NDX.
SemiBizz
Er uh, I don't like the looks of Mister Softee here:

[img]http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=msft,uu[m,a]daclyyay[da][pb50!b200][vc60][iub14!la12,26,9]&r=1915.gif[/img]
HayRake
As The Crows Fly! wink.gif unsure.gif bear.gif

http://www.maui.net/~mauiben/jan1dowcloseup.PNG

http://www.maui.net/~mauiben/jan1dow2.html

Please Allow 60 Seconds To Lock And Load! tongue.gif Rock On! cool.gif

http://www.maui.net/~mauiben/jan2dow2005.swf
SemiBizz
QUOTE (HayRake @ Jan 22 2005, 08:07 PM)



Yeah Baby... dat's what I'm talking about.....

Now, here's another one for you, pull it out a litttle further. Like all the way back to 7400... Three Peaks and the Domed House
Might I suggest Eric Burden and the Animals - "House of the Rising Sun"
Chart Guru Doug
QUOTE
If the bulls can hold on til thursday, then MSFT will surely bring some good news. Intel + Dell forecast shows Microsoft will be a big winner, and it makes up a whopping 8% of the NDX.

May I ask what brings you to this conclusion?
HayRake
SemiBizz - First Things First. biggrin.gif Servin' Up 9700! wink.gif bear.gif bear.gif bear.gif wink.gif

Please Allow 60 Seconds To Lock And Load! tongue.gif CRANK IT UP! cool.gif

http://www.maui.net/~mauiben/jan20dow.swf
Modest Trader
I found a few identical three black crow patterns that rallied right off the double bottom retest, sort of. The chart below shows the pattern in early August 2002. Stockcharts.com doesn't go back far enough, but I also found the pattern on Bigcharts in early November 1979, early November 1977, late April 1977, early October 1976, late September 1975, October 1972 and November 1971. If someone else can reproduce those charts, I would appreciate it. They obviously are not exact analogs to the current pattern, but do show that rallies do occur after these patterns that can represent selling exhaustion as well as selling acceleration. TIA.

[img]http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$indu,uu[d,a]daclyyay[d20020301,20020831][pd50,2!b200!f][iua10,24,10!lb14!].gif[/img]
SemiBizz
QUOTE (HayRake @ Jan 22 2005, 09:18 PM)
SemiBizz - First Things First. biggrin.gif  Servin' Up 9700! wink.gif  bear.gif  bear.gif  bear.gif  wink.gif

Please Allow 60 Seconds To Lock And Load! tongue.gif CRANK IT UP! cool.gif

http://www.maui.net/~mauiben/jan20dow.swf
*



I did... it was awesome. It's being passed all over the net as we speak.... cool.gif...Good Job ! This site rocks.
Modest Trader


Here was a good example from www.leavittbrothers.com for what I view the current identical three black crows for the Dow to be representing.

One question I've been meaning to ask during this great candlestick discussion, for those who have a real familiarity with how candlesticks should be read, is how do you reconcile having the irrefutable three identical black crows for the Dow (and possibly the trannies), but fail to have them the past three days for any other major index. Most major indices have three big red candles, but none come close to being the three identical black crows the Dow shows. One would think that if we are going to have a major market breakdown next week, it should be showing clearly on all major indices. The Russell 2000 for one is clearly not showing such an impending breakdown.

Your thoughts, please.
SemiBizz
QUOTE (Modest Trader @ Jan 22 2005, 10:26 PM)


Here was a good example from www.leavittbrothers.com for what I view the current identical three black crows for the Dow to be representing.

One question I've been meaning to ask during this great candlestick discussion, for those who have a real familiarity with how candlesticks should be read, is how do you reconcile having the irrefutable three identical black crows for the Dow (and possibly the trannies), but fail to have them the past three days for any other major index. Most major indices have three big red candles, but none come close to being the three identical black crows the Dow shows. One would think that if we are going to have a major market breakdown next week, it should be showing clearly on all major indices. The Russell 2000 for one is clearly not showing such an impending breakdown.

Your thoughts, please.
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Not really, it's probably just a case of SUCK-tor rotation... What goes around comes around... In any event, we've seen for sure it's a case of Fowl Play....
Chart Guru Doug
QUOTE (Modest Trader @ Jan 22 2005, 08:38 PM)
I found a few identical three black crow patterns that rallied right off the double bottom retest, sort of. The chart below shows the pattern in early August 2002. Stockcharts.com doesn't go back far enough, but I also found the pattern on Bigcharts in early November 1979, early November 1977, late April 1977, early October 1976, late September 1975, October 1972 and November 1971. If someone else can reproduce those charts, I would appreciate it. They obviously are not exact analogs to the current pattern, but do show that rallies do occur after these patterns that can represent selling exhaustion as well as selling acceleration. TIA.

[img]http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$indu,uu[d,a]daclyyay[d20020301,20020831][pd50,2!b200!f][iua10,24,10!lb14!].gif[/img]
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Mt
I don't think this is a good example (dji)because the second stick in your example has too much tail showing.
Your second example on tjx looks good though....
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