The only TA I can find to explain it
- Thread starter Babak
- Start date
Yeah, I guess I was referring to, you know, 'normal' stuff. I'm sure I can find a correlation with some wacky stuff but...
As someone else mentioned the Rydex - a measure of sentiment also flashed an oversold. I also read Hulbert say that his newsletter sentiment measures also signalled a rally here.
http://www.marketwatch.com/news/sto...D24-4E3D-94CC-87FD0F78B540}&siteid=mktw&dist=
As someone else mentioned the Rydex - a measure of sentiment also flashed an oversold. I also read Hulbert say that his newsletter sentiment measures also signalled a rally here.
http://www.marketwatch.com/news/sto...D24-4E3D-94CC-87FD0F78B540}&siteid=mktw&dist=
Quote from Babak:
This is the only technical reason I can find right now to explain the market rallying from here:
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Frankly DIA is notably weaker than SPY or QQQQ so;
would rather apply DOW theory to SPY,QQQQ.
That is ,main trend is still up in SPY,QQQQ;
until proven otherwise and main trend is
still down in DAL & NWAC until proven otherwise.
Quote from Babak:
This is the only technical reason I can find right now to explain the market rallying from here:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=54664
Also, late October 2004, late April 2005 and early July 2005 had bullish hammer pattern price actions.
NihabaAshi
Hi Babak,
A simple (generic) definition...
http://www.candlesticker.com/Cs18.asp
I could post a dozen or more links to generic definitions but they are basically the same.
However, they will differ considerable in their opinion about the reliability of the Hammer pattern.
Simply, the way books and websites presents Hammer patterns...
You really can't trade it as is with any consistent positive results.
Best to just integrate it into whatever is your current primary method until one gets to the point of being able to apply it as a method all by itself.
NihabaAshi