A candlestick read of the 1 yr. SPX weekly chart- Pull this
chart up, and shrink the windows down to view the chart and
comments together. Tip- if you move your cursor over the
candles, you get the date and open/close info.
moneycentral.msn.com
1) Bear cycle ends and bull cycle begins in March '09, with 4
Black, then 9 white candles in a row. At least 4 in a row would be
considered white soldiers, I believe. The start of a cyclical
bull market is foretold.
2) A Correction developed the week of 6/8/09. Nothing in the
candles foretold anything very bearish. The correction ended
in short order.
3)The week of 7/13/09, a new bullish run begins with 4 white
candles in a row, Again, this foretells a bullish move,
as no real correction occurs until September.
4) Beginning 11/16/09, a series of skinny bodies appeared. Lots of tops,
hammers, and inverted hammers. No progress made bull or bear.
5) Beginning the week of 1/11/10, we see 4 black candles in a
row now. Two of these are 'engulfing' candles, aka 'bearish
engulfing'. These 4 candles could also be interpreted as 'black crows'.
This foretells continuing bearishness.
PS- GO COLTS! |
