To: The Perfect Hedge who wrote (818 ) 11/26/1997 5:45:00 PM From: MonsieurGonzo Respond to
Glen; RE:" EVI..."Hammer today, Glen - just a bullish candle that went up until he hit that resistance there at 52-54. You can see the stuff he's gotta pull up through on both sides of his chart.Weekly Chart . Really nice story evolving there. You can see the move upwards this week has been making a Hammer there, too: and one would feel that a Weekly Hammer would be more forceful than one on a daily chart. Right now, his weekly candle is almost a perfect Doji , which is cool - Dojis are powerful hammers. But it would be great to see him break through that clutter there and close Friday above 52-1/2, making a white hammer-head rather than a red-one regardless what happens in the overall market .Hammers are supposed to be confirmed by the following candlestick, Glen. On the Daily Chart, today's bullish candle confirms the Daily Chart Hammer . Next week, what you want to see is a bullish-looking candlestick on EVI's Weekly Chart, to confirm the more powerful Hammer there.Hammer , aside from a bearish candlestick that fails to confirm it, of course: is a Shooting Star (or a candle that is a "mirror-image" of the Hammer); or a Doji . Although not fatal, I have noticed that these two candlesticks more often than not will kill a good-looking Hammer .index chart of that entire sector, to see if EVI is acting alone, or in concert with its group.amazing coincidence ? (^_^)
