PINL:VLTAF - Post by User
Comment by
eebleron Jun 14, 2010 4:30pm
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Post# 17187371
RE: 2 Steps Forward, 1 Step Back
RE: 2 Steps Forward, 1 Step Back
"We need a reversal candle to form hereabouts...."
We are dealing in 1c increments and a range of only 7c today so while it doesn't match perfectly to the definition I would say you got as close as you are going to get to a bullish inverted hammer. It is not the most reliable of candlesticks to go by as it usually needs confirmation the next day but in light of where we were today at one point there were some positive signs. If not for the usual last 15 minutes...
Technical indicators looked better today as well. The MACD is flat or has a very, very small upwards hook on the bottom and a MACD histogram is trending up (although still in the negative). Momentum and Williams% also showed a bit of a flat or small upwards trend.
In terms of longer-term trends, if you draw a trendline from October along the bottoms, we are basically back onto that trendline.
ALLEN4 - is your second luckiest number 15? lol.
Here is hoping tomorrow is another day of calm but positive sentiment. I don't think there are any major economic announcements until Weds.
eebler