Ann: Response to ASX Price Query, page-52

Hi Ozrocket - to summarise, today's price action is a lot more bullish technically than it may appear to those who look at the last trade price. But in any case, I mostly see a tight range peg the following day or two after a candle hammer/long wick reversal (when the low price for the day is rejected quickly and buyers quickly buy back up to the opening price or close to it - and then wait for more stale sellers to be flushed out.)

Below is an example of what I mean. See the second candle in the circle is like yesterday when the low is rejected and the Sp finishes where it starts. (or close) Today is like the next candle - tight range; SP doesn't move much. Third day - bulls show signs that they want to break away a bit. The last candle is when the bulls hit the accelerator and off it goes. Just an example re the multi day structure. Works also when you turn the chart upside down when you get a "blowoff".