Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: robert b furman who wrote (10426)	9/27/2010 2:12:04 AM
From: Hawkmoon	Read Replies (1) of 221974

Yeah.. those are strong candles.. Marubozus. futurestechs.co.uk Now we need to find confirmation, which should mean that any retracement should not violate a 50% retracement of the previous day's Marubozu. Often they will indicate a blow-off top forming, so I try and watch the following day's actions for counter-trend possibilities. We're not seeing a lot of volume on this uptrend, so it's likely short-covering. But when the shorts are done, there won't be anything propping the market up anymore. Hawk

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