Kymar,
Thanks for taking a look at that, you know I always appreciate the well-considered way you look at things.
Your example of 6/15 is a spinning top (but a down day) after 6/14's Black Marubozu. So 6/14 BM accurately predicted a down 6/15. The example of 5/31, a hammer (suggests a bottom as in "hammering out a bottom") follows the BM of 5/30 and is one of the 6 examples of 17 BM's in the last 100 days which did not accurately predict a down day to follow. But then, as I pointed out, the hammer of 5/31 clued that the end of the down was at hand, ST....
The more I get into the candlesticks in conjunction with TA indicators and trendlines and MoonDudeTheory (LOL!!!).....
the more I think it is kick-butt stuff.
My extreme gratitude to Don Sew from the Stock Attack Thread whose constant analysis and mention of the candlesticks sparked my interest.
I know I posted this chart Friday, but the more I grok it, the more confidence I feel in continuation of down Monday...
best.com
I said last week "LONG IS WRONG", and I re-iterate now.
Black Marubozu
Stochastics heading down, not near oversold yet.
ADX confirmation.
5e8s MA crossover on daily (sell-signal)
Price trading below 30 ema (lunar cycle), the blue line and price below is negative.
ST trendline 6/20-7/5 broken. Follow thru expected.
Trading volume rising last three days showing sell-off picking up some juice.
I sincerely doubt that every day during a short term downtrend is down...but I feel over the next several days,
perhaps even extending to the next NM (July 20), the compx will be trending lower.
All in all, one of those rare instances where all the ducks are lining up in a row...I wouldn't in a million try to swim upstream here.....
Best regards,
EE |
