3 replies to this topic

[johngeorge]

Thrusting Bearish: Much like the On Neck and In Neck Lines,
the Thrusting Line represents a failure to rally in a
down market. Because of this failure, the bulls will be
discouraged and a lack of buying will let the
downtrend continue.

Note: The accuracy of the description above is dependent
upon how close the recognized pattern resembles the ideal
pattern.

Excerpted with permission from Candle Stick Charting Explained by Greg Morris.




http://stockcharts.c...1072&r=1010.png

[arbman]

Obviously, if it fails the pattern looks identical to July 16 - July 23 period. If it fails here below the break out level, then I will conclude that (1) the deflationary forces, such as the declining monet supply growth rate, are still too big and the bulls have to wait until there is more base gets built or more accumulation takes place, (2) there are some serious problems around the USD as far as the value of the US based assets are concerned, such that they will wait until THE bottom of the USD is found... I am bullish, but cautiously hedged, until the Fed rally lows get taken. The financials are really not showing much enthusiasm despite the steeper yield curve... - kisa

Edited by kisacik, 25 September 2007 - 07:51 PM.

[selecto]

Looks like we have a market. This candlestick site went to a diamonds buy today.

[johngeorge]

Looks like we have a market. This candlestick site went to a diamonds buy today.

Thanks selecto
For the broad markets I am now sitting in a money market fund.
Best to you