Hi DRG,QQQ (ETF for Nasdaq) looks promising.It is back to...

Hi DRG,

QQQ (ETF for Nasdaq) looks promising.

It is back to support.

28/29 December formed a two candle reversal pattern known as a Kicker. A Kicker occurs when the market has a big down day followed by a big up day - and the open of the up day is equal to or higher than the open of the down day. Stephen Bigalow, something of an expert on candle-sticks, says that the Kicker pattern is the strongest of the 12 major candlestick patterns.

This is what Bigalow says about the Kicker:

"What is the strongest of the 12 major candlestick patterns, or rather the entire list of candlestick signals? The Kicker signal. This signal demonstrates a severe change an investor sentiment. In fact, many investors suggest that if you see this signal then you should go long or short, depending upon whether it is bullish or bearish."

If you look at the bottom panel in the chart above, you will see a histogram for volume. It shows declining volume while QQQ is declining.

The received wisdom about volume is that declining volume on a down trend is bullish.

The QQQ chart is looking bullish to me.