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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (22914)8/4/2001 3:48:10 PM
From: TREND1  Read Replies (1) | Respond to of 30051
 
xcr600
In an evening start the 3rd candle closes well into the body of the first candle.

His chart seems to have a Nasdaq close lower than 2066.

Metastock doesn't even say it is an evening star.

But if you want it to be, well ......let it be your star(g)

Again, my past studies show candle formations have low probabilities of success.

But since I do nor predict, I'll have to wait until Tuesday to see if it is a real Nasdaq top.

Hope that helps?

Larry Dudash
PS: Have you read both of Steve Nison's books?
I have and they are very interesting.



To: xcr600 who wrote (22914)8/4/2001 7:46:53 PM
From: westpacific  Respond to of 30051
 
SPX chart showing similar to NAS, could not break outside 50 day MA, stohastics turning down to crossover, Percent R peaked and turning down.

Regression channels still in uptrend.

Next week will make the call, but it looks like near term pullback for now.

Great NAS chart you posted. And interesting how the NAS was able to penetrate the old res. line last week - but what do you expect with all those ML games and buying on their part.

Getting interesting indeed.

West


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