Casaubon,sorry for being so "detailed" in that NYA candles,but I promise,it will be the last time.
NYA looks the strongest and that is the main reason I am focusing on this one.
Back to our picture:
siliconinvestor.com
Look from mid of 1999,you can see 5 candles above 620 almost on the same level.
The 5-th, black one did not cover completely the 4-th one.
The 6-th one is a break to the upside.
Now look at Dec/99 and Jan/00 above 636. We have 2 series of the 4 candles.In both cases they broke to the downside, because in both that cases, we had a total engulfing.
Now look at the 4 recent one.First is white,after black,after white,the last one is a black one.
You can see that the real body of the last black one is...
the shortest and the top of the shadow is ABOVE the BODY of the huge black candle.
More... the last black candle is not a total engulfing, because the the bottom of the body is higher than the white one.
I think that,this last candle (decision) is more bullish than bearish.
...I don't mind to be wrong,just my analysis.
el
|
