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

To: ftth who wrote (846)	12/3/1997 12:49:00 AM
From: Esteban	Read Replies (1) \| Respond to of 1589

Dave, Great charts and great web site! That candlestick graphic with the moving flame is first class. Steve is away on a business trip this week. I'm sure he'll have a lot to say about it when he returns. Unfortunately, I don't know anything about these charting methods Nisson presented in his latest book, so I can't comment intelligently about them. I look forward to reading about the 3 line break on your web site, but I'm not up for it right now. Looks like we have a harami cross for today on both OEX and SPX. Not surprising considering yesterday's huge day. If tomorrow confirms the reversal pattern, I see only a drop to the support around 950 or to the intermediate trendline starting on Oct. 28. I see critical support in danger of breaking on the 5 minute bar chart, so any early weakness will close out my long position. 90 minute candlestick also shows a harami, but not as convincing a one as the daily chart. Dave, I must admit I don't know much about VIX or how it should correlate with the indices prices. Have you found VIX useful as a confirming indicator, or in this case, as an important divergence? Good work! Esteban