To: isopatch who wrote (94772 ) 12/9/2001 10:55:14 AM From: chowder Read Replies (1) | Respond to of 95453 Yo la Pooch! I can't help but notice you fellas on the Seldom Right thread are looking into a little technical analysis of late, specifically candlesticks. I'm happy I was able to inspire you fellas to look into the analysis. Nobody spoke about candlesticks on our threads until I started bringing it up. You boys still seem a little skeptical at this point, so let the Sheriff, the King of the original SD thread splain a few things to you rookies with a candlestick book. <VBG> I see where our old friend Roebear pointed out a bearish reversal pattern on the $NDX. True, true! But it goes a little deeper than that guys. Let me try and open your eyes a little to give you a clear picture of what's going on. When looking at the daily chart, kindly take note of the support and resistance lines.stockcharts.com [h,a]daclynmy[pb200!b50!f][iut!Ub14!Ua12,26,9!Lh14,3!Ld20] Whoa! the NDX traded down to just above the 200 day moving average, a major line of support and rebounded. WHODATHUNKIT? Now you rookie WS ex-broker (who should be familiar with this stuff), let's look at the weekly chart. Okee dokie?stockcharts.com [h,a]waclynmy[pb200!b50!f][iut!Ub14!Ua12,26,9!Lh14,3!Ld20] Whoa again! The NDX traded up to the 50 day moving average, a major line of resistance and dropped back. How does it know to do that? <lol> OK, OK let's look at the 60 minute chart.stockcharts.com [h,a]eaclynmy[pb200!b50!f][iut!Ub14!Ua12,26,9!Lh14,3!Ld20] Well I'll be damned! Light my candlestick! The 60 minute chart traded down to the gap, a major line of resistance and bounced back up displaying a BULLISH reversal pattern. How did it know to do that???? Support, resistance, moving averages, overbought and oversold all came into play on the various charts and the price responded accordingly. Now I know what the various charts mean and how they interact with each other to the point I know what to expect come Monday. Do you fellas know? Care to take a guess? Come on, give it a shot, you fellas got a book don't you? Sherriff bum