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Re: TrevorInAustin post# 700

Wednesday, 11/21/2007 10:26:56 AM

Wednesday, November 21, 2007 10:26:56 AM

Post# of 871
Yesterday appeared to form a spinning top/shooting star. Note that this candle may be too large to really be considered a true shooting star. Therefore, I would call it a variation of such. The gap up indicated definite sudden buying interest (the volume clarifies that further). However, volume appears to be drying up today (that could change any second). The downward pressure identified from the long upward shadow from yesterday seems to be the continuing trend today. Therefore, a bearish engulfing pattern seems to be forming. If volume ramps up, this could change very quickly.

All IMO. I definitely do not pretend to be an expert at this stuff... yet. :D

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