Casaubon,
>>>> . The ADX has expectedly risen above 50, with a rising +DI, lending support for my earlier ascertation of rising prices early next week (remember, when the ADX is above 50, a continuation of the trend is strongly implied). So, although the candle pattern is mildly bearish (Doji), the ADX strongly anticipates a move to the upside.<<<<
I too, feel that we could still see some more zig-zagging with an slight incline, but not much longer.
Talking about the ADX and DI, it would be nice if we could get a similar pattern as that which occured at the end of NOV. Now that was a clear signal.
Im sure you noticed, but that pop in volume on a significant DOWN DAY is an ominous sign. One may say that the DOW only sold off 94 points, but it actually sold off about 180 DOW points off the intraday highs on increased/pop in volume.
That does not mean it will continue down immediately, but could. Regardless, it is a bad sign for the near future.
seeya |
