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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (645)	11/18/1997 9:49:00 PM
From: HeyRainier	Respond to of 1589

"CPQ and DELL looks like they are coming off shooting stars which is bullish right?" Glen, Shooting Stars are of a bearish nature; you might perhaps be mistaking it for an Inverted Hammer(Shooting Stars are found at an uptrend, and Inverted Hammers at a downtrend and are bullish reversal patterns). Also, the characteristics of DELL's candles aren't quite what would be considered Shooting Stars. The upper shadow isn't long enough to signal a definte bearish sign. The characteristics we're looking for on the Shooting Star more closely resemble the 2nd to last candle in October's trading(an Inverted Hammer), except of course it would be found on an uptrend. Regards, Rainier Shooting Star: scifi.co.uk Inverted Hammer: scifi.co.uk

To: The Perfect Hedge who wrote (645)	11/19/1997 1:13:00 AM
From: MonsieurGonzo	Respond to of 1589

Glen; RE"DELL and CPQ..." ...look like short-term tops to me, Glen. I think DELL is likely to close the window down to what, 80? OTOH, DELL's weekly chart is coming off of a Doji Hammer, and looks bullish as all get-out. Go figure! CPQ doesn't really have a "gap", (but the two stox move together) - wouldn't be surprised to see it testing its support around what, 63? >> Recently I have had the impression (as a day-trader in TechStocks) that the Market has been moving the stocks, rather than the other way around. Not sure if this makes any sense, really - just a kind of gut feeling since the crash in late October. It's as if there are very few individual stock movements any more - most of the chart patterns across the Tech Sector (and over on the DOW, too) look very similar. Sure, some are weaker, some stronger - look at EMC and STK compared to SEG/WDC/QNTM, for example. But I have been spending more and more of my time reading the candlesticks on the indices to see what's going to happen to my stocks ! -Steve