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Strategies & Market Trends : Technical Analysis - Beginners

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To: Monty Lenard who wrote (11603)	2/14/2001 11:54:43 AM
From: TechTrader42	Read Replies (2) of 12039

IDTI formed a nice harami this morning on the daily chart, and continued to move up strongly after the signal. I saw the signal with my scans in eSignal's Excel add-in. As you know (as you've written in past notes), Monty, the bullish harami is a two-candlestick pattern in which a small real body holds within the previous session's large black body. It's interesting to see that the candlestick "overruled" intraday MACD in this instance, which was giving sell signals in the 5-minute chart. However, daily MACD has been giving buy signals. MACD, which is more suited to trending markets, has been unreliable lately. Candlesticks have been far more reliable.

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