Arik,
>>>> You said if the Dow is flat to slightly up then it's bearish from the Japanese candlestick view, and if the dow is up more then 50 points, then it's bearish by your system signals, <<<<
I was responding to Jaime's specific question which was that if the DOW was to go flat, would it re-trigger my CLASS SELL. I answered probably not. To further explain, it would probably have to go higher to retrigger my signal. Please keep in mind that my CLASS SELL signals are designed to predict the timing of the reversal, but does not predict the size. I have to revert to other technicals to determine follow-thru, although I am attempting to expand its ability.
With the candlesticks, if the DOW was to close at positive 50 or greater, it would negate a candlestick reversal signal. Im specificly making mention to a HANGING MAN, in which the shadow needs to be 3 times the size of the body. Actually my math was wrong, it should have been about 43 not 50, since the low of the day was a negative 130.
Hope that explains it.
seeya |
