Craziest thing I ever did see!
My RTQ were still getting trades until 3:15 CST. They were not marked as late. We had a volume of just over 1 billion on the NASDAQ. Must be those darn daytraders, or at least that is the story I bet NASDAQ comes up with. I have heard that most RTQ services were reporting the same problem.
This is my take on the action using japanese candlesticks. I have just starting using this technique, so if I am incorrect please feel free to correct me.
Today, we closed at 7 11/16. No change for the day. This forms a doji star (same open and close, with movement up and down) On Jan. 21, the pattern formed a doji star as well. Doji stars indicate reversal patterns. It was followed the following day by a hanging man, confirming the reversal. (open higher than the close, with movement down and then back to form the lower close) Today we also formed a doji star, after three down days. The stock needs to close higher Monday to indicate a bullish reversal.
BTW, here is the description on Money Flow, according to AIQ:
Money Flow is computed by multiplying total trading dollars by a factor called the flow factor. Total dollars is estimated by multiplying average price for the period's activity by the total volume for the period. The average price is computed as the average of the high, the low, and the close.
The flow factor was taken from the work of Marc Chaikin and is exactly the same as the accumulation factor used in the calculation from the Volume Accumulation Percentage. The factor is determined from the relation of the closing price to the intraday high and low. If the closing price is midway between the high and the low, then money flow pressure is balanced and the factor is zero. If the day's closing price is equal to the day's highest price, then the flow factor is 1.0. If the day's closing price is equal to the intraday low, then the flow factor is minus 1.0, which is interpreted to mean a total outflow of dollars from the ticker.
Confused?
Andrew |
