Yeah, I know. The doji represents indecision and can be a reliable turning point indicator. I'm looking at anecdotal kind of evidence that things are noticeably changing for the better (the long point of view). The daily chart does not look bad with MA's flattening out and the shorter MA's turning up. Also, the weekly chart has to be a real picker-upper, with that big white candle and indicators (sto, adx,
MA's turning up. I would say there is a fair chance for a pullback of sorts. But I think there is also a fair chance
we break the trendline up. I think it's possible for some of the big gainers to take a breather while late-comers to the party warm up a bit. That is, if we really are out of the woods for now....
As I am learning, nothing is 100% guaranteed and words to the
wise are best kept in mind.
As far as not looking too hot, I don't believe anything about the market environment is really all that hot. Even though we had a good up week for the Nas, not one day did it appear good or obvious that we would put in such a promising set of daily candles. As I recall, the futures faked the wrong eventual direction each and every day. My contrary kind of thinking also make me think that it is very much on purpose to make this thing look as crappy as possible. The market needs to make a case for both sides as not everyone can be buyer and seller at once. The market needs buyers and sellers
both together. So actually, the not-hot-looking aspect I find a comfort. The market is once again ignoring bad news, this to me can mean one thing....the market is going to go up again, for no apparent reason, other than maybe "it's time" once again. Also, you got all your doomy-gloomy front page headlines, the pieces seen to be falling in place.
Bobby, like I said, no guarantees and no promises...not trying to cram the bullish perspective down everyone's throat. Just trying to explain what I'm thinking and seeing and hoping I'm not to stupid to have any relevance and benefit.
Always appreciate your insights...
Don't even mind your name for me!
Regards,
MOONDUDE |
