Two Paunches and a Pinch indicate that the S&P 500 is setting up for a corrective bounce.
We do not as yet see a Japanese Candlestick Reversal Warning Pattern in any time frame.
William Kurtz
http://www.CandlesticksOnSteroids.com
May 19, 2012
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“Black Monday” on October 19, 1987 did not “come out of the blue.” or “come out of nowhere,” as some folks who were on the scene still remember it today. Rather, it was the end result of a long, slow process that was weeks in the making. Trend-reversal signals arose on Friday October 2 and [...] This does not look healthy. Apple Inc. shares closed Down $3.46 today; and in doing so, price action left behind a classic Japanese Candlestick “Bearish Engulfing” pattern. The “Real Body” of the tall black candle “bearishly engulfed” the “Real Bodies” of the eight price bars which preceded it. This pattern, or one almost exactly the [...] Our immediate attention is commanded. On March 16, 2012, two Japanese Candlestick Trend Reversal Warning Patterns which appear to be of major importance appeared in the 30-minute chart of the Dow Industrials. If the implications of these patterns are borne out in the passage of time, the stock market will suffer a disastrous loss even [...] What is arguably a Japanese Candlestick “Inverted Hammer” Reversal Pattern developed in the Daily chart of TLT shares today, at the bottom of a downtrend. The more compelling argument for a Reversal is found in the Indicators. TLT shares are a fairly good proxy for Treasury Bonds. Most often, the direction of price action in [...] The manic rise in the price of Silver in late April 2011 led to a swift decline and a loss of nearly 34%. There seems to be a correlation now between that experience in Silver a year ago and the situation in Apple shares now. We see a similar mania at work, and a Japanese [...] Today we see a doubly bearish Japanese Candlestick Reversal Warning Pattern in the Dow Industrials: a Doji buried within a Bearish Engulfing Pattern. The “Doji” is characterized by the condition in which the Opening price and the Closing price are the same, or very nearly so. In the subject example, the Opening price was 12970.76, [...] Apple Top and Reversal? A Japanese Candlestick Reversal Warning Pattern has arisen in shares of Apple Inc. Such patterns as these are warnings, not guarantees; but when they arise at the top of a long price advance, we sit up and take notice. In this example (the top chart), the Real Body of the tall [...] Just to set the stage, I’d like to repeat a little story that I recently read. It doesn’t have anything directly to do with Japanese Candlesticks. I cite it just to set the stage. A heart surgeon came into a Harley-Davidson shop to retrieve his motorcycle, upon which the mechanic had performed a major repair [...] A large “Bearish Engulfing” Reversal Warning Pattern formed in shares of Apple Inc. on March 5, 2012. Specifically, at the top of a long uptrend the “Real Body” of a tall black Japanese Candlestick price bar engulfed the “Real Bodies” of the twelve preceding price bars. From the Closing price of that black Candle to [...] |
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