Candlestick Charting--The unknown indicator Message Board

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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: The Perfect Hedge who wrote (639)	11/18/1997 4:03:00 PM
From: MonsieurGonzo	Read Replies (1) of 1589

Glen, these candlesticks are very nice SHORT term indicators, so all I would read in to it is that the "inverted hammer" was a bullish reversal signal WITHIN the current, intermediate-term DownTrend. It (and everything else in this market, with few exceptions) is still WAY below the DownTrend line (drawn from the tops). CKR rallied from the Hammer and approached 40, where it is stalled now. To "change" this trend, CKR would have to bust that resistance just over 40, pull-back in a little technical correction, where buyers appear and demonstrate that the (new) intermediate-term UpTrend has "legs to stand on". Sooooo lilke everything else out there, my best guess is: short term uptrend, intermediate term downtrend, long term uptrend. What do you make of DELL and CPQ ??? -Steve

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