faltering friday, page-60

Quote Mongo,
"Just call me Selmax with the candles...
For true believers of candles (nclude me out), the DJIA tells the story... a couple of hanging me candles at the top of an uptrend. Signifies a bearish reversal.
Note we had its twin brother, the gravestone doji, at the top of the April rally.
I'm thinking back to the 1000ish mark if it comes off."

Hi Mongo,
I think you should read up more on Candle Patterns.
It is very clear you don't like or believe in them...
And from your posts I can see that you don't even know what they are...or mean..
Aprils top was a Evening Star...a Top in Candles..
The current Candle we are talking DJIA here is A "DRAGON FLY" which is Bullish but needs to confirm.
Note the 2 Tops on the preceding Candles and there close's that was a Twezzer Top but due to the rejection of the Low on the last candle to close near the high that would nullify the prevouis 2.
Add the last 3 together and you still get the same as the 3rd Candle..which was Bullish..
So what they are doing is retesting the recent Highs and lows with the last being a rejection of the Lows....
So from here that now makes a 60/40 of up imo...
I think tonight will be much the same if it close's in the Green by one or 2 points expect a break up on Monday night...imo
If it fails eg - 150/200 odd pts at least tonight tops in...
If not look to Monday Night..
Cheers Pete..
PPS Not getting narky just dont like seeing you bagging something that you don't have the full book on.