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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: ajtj99 who wrote (26699)12/29/2001 8:24:27 AM
From: big guy  Read Replies (1) of 52237
 
My understanding is Inverted hammers are only valid at the bottoms of declines. This December candle also doesn't fit the bill for a shooting star because there was no gap between itself and the November candle. It looks more like what Nison describes as a advance block or stalled pattern. Both although not major reversal patterns imply the bulls are running out of steam and a change in trend may be in the cards. The long upper wick on the December candle lends the chances for a reversal more weight. Time will tell.
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