I am looking at the daily SPY, SPX and INDU charts. They all have doji's for today. SPX looks like an evening star doji, more bearish than a regular evening star.
I'm not saying we are going to tank tomorrow, but I think there's going to be some downside.
Not sure if anyone here thinks much of reading candlesticks, as they need to be interpreted in the context of other indicators, but I have made some very successful short trades off of doji's at tops, so I am aware of them.
Yep we can figure out the loggistics between my daughters work schedule, kill'en deer, roasting pig, watching UT(on tv)and my bud's wife's Birthday party. LOL But we will figure it all out. Looking forward to it. How ya want me to get ahold of ya?
Blue,your understanding of candlesticks is very impressive :) I went and took a look at spy,qqqqs,and dow and your right about the candle on all three.It is commonly none as a shooting star.The qqqqs could be interpreted as a doji.Just an in the macd,you must wait for confirmation.In my case,looking at the the macd i will be looking for a lower macd BAR to represent a change in (trend) or (momentum).You will be looking for a color change.A red candle tommorrow will be a clue..... keep up the good work! Question for you ? what causes a shooting star? i know lets see if you do? mike
a struggle is right between the bears and bulls.. but its usually caused by a lower close than the open.It appears a small gap and run occured this morning, then a sell-off then a rebound that finished lower than the open............ :) These candles usually appear (near) tops or bottoms..Topping tails on the last two candles could be that momo is about gone.Remember if the s/p closes below the lowest point of the candle today, then you have the bearish engulfing candle! GLTY i checked all 3 and they had a lower close than the open.If the market closes above the highest point in todays candle then the shooting star is not confirmed.....:)
a comet shooting through the atmosphere ?
it's caused by a power shift from buyers who were in control to a struggle between buyers and sellers. kind of a stalemate. that's how I understand it anyway. you know the market is vulnerable to a setback.
That is awesome KBK. I live about 10 minutes west of town, past West Lake Hills and up Bee Caves a bit.
I don't think V will be around, but ya never know with V :)
You want to meet somewhere in the city?
Depends on the pattern dual. Red OR green are usually acceptable. Like shooting stars and hanging men and hammers can be either color. Some candles MUST be NO color, like some doji's. Bearish or bullish engulfing obviously have to be the correct color, or three black crows have to be red (or black).