3 replies to this topic

[Rogerdodger]

"Next week is not pretty" is what the stats said last weekend per Mike Burk.
So if we are up one point on an ugly week...maybe we can eek out some more.
The MACD hist looks like it's geting ready to cross up.
What the FRAC was close with today being the end of quarter.
If we repeat June's end of quarter action...October's 1st week should be a nice white up candle.
But October '04 and '05's first week had pretty RED candles after topping in June-July!
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=2004-06-01&i=p16672177806&a=58427056&r=546.png

Edited by Rogerdodger, 28 September 2007 - 06:56 PM.

[iloli way]

Is that a bearish 'hanging man' candle this week?

[Rogerdodger]

Probably closer to a Long legged doji (which is not bullish) or a spinning top:
Long legged doji - signals a top reversal
Spinning Top: Candlestick lines that have small bodies with upper and lower shadows that exceed the length of the body. Spinning tops signal indecision.

Hanging Man: Hanging Man candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick looks like a square lollipop with a long stick. If this candlestick forms during a decline, then it is called a Hammer. <a name="harami">

Edited by Rogerdodger, 28 September 2007 - 08:30 PM.

[arbman]

I am thinking...

No stock market rally before these bottom, no stock market decline before these rally...

http://ichart.financ...X,USDJPY=X&.png


I can not think of another reason why the market stays in this tight range...