Don Sew's read on the white soldiers/black crows is well worth reading:
Market Swing Discussion: Chat Room Notes and Recaps
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Posted by Nikko_thyme on Friday, August 09, 2002 - 12:52 pm:
Chat Notes: 8/9 11:00 AM
Daily Signals: (INTRADAY)
DOW, SPX, OEX: Borderline CLASS 1 SELL
NAZ: OVERBOUGHT
SOX: UPPER MIDRANGE/Near OVERBOUGHT
Donald is not planning to add to his short position, unless his signals reach the CLASS 1 SELL area. He may hedge his short position on a sell off, depending on how much the market moves. He is taking it one day at a time.
Donald noted the 3 WHITE SOLDIERS are up against numerous 3 BLACK CROWS. He is watching to see which pattern is fulfilled. He noted how SOLDIERS are more reliable in an up trend, and CROWS in a down trend. Depending on which pattern gets fulfilled, it could give a clue as to
a trend change or a continuation of the current down trend.
Donald mentioned two possible scenarios for the Capitulation indicator. The first is it could go down and the market could continue to rally from here. The second is the indicator could turn up and form a double top, while the market turns down and possibly forms a triangle, or rectangle chart pattern etc... and sell off into the Sept, Oct time frame. From there the potential for a rally with a Fibonacci calculation target is possible.
Fred
POLITICIANS & DIAPERS BOTH NEED TO BE CHANGED,
AND FOR THE SAME REASON---
AI
