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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (1145)	8/24/2001 7:14:15 AM
From: Vendit™	Read Replies (2) \| Respond to of 8752

Another bottom candle formed Thursday. chart.bigcharts.com Inverted Hammer, litwick.com How to identify it; Small real body at the lower end of the trading range Upper shadow usually no more than twice as long as the real body No (or almost no) lower shadow What it means; As the market opens below the close of the previous day, the bulls rally briefly, but not enough to close above the previous day’s close. As this leaves shorts in a losing position, the Inverted Hammer presents the potential for an upcoming rally. Confirmation of the trend reversal would by an opening above the body of the Inverted Hammer on the next trading day*. If the open and the close are identical, the indicator is considered a Gravestone Doji. The Gravestone Doji has a higher reliability associated with it than an Inverted Hammer. Everything is still pointing to a short-term bottom formation IMO. Yesterday is the first “higher” low that we have seen in 6 trading days. Thursdays candle has now pulled up and away from the lower bollie. On the down side, today is Friday so anything goes. Momentum is not yet present. The above is an update from yesterday: Message 16249164