Discussion in 'Technical Analysis' started by millionaire7, Oct 17, 2008.
I see a inside bar for this week on the weekly chart of SPY.
Is it a good sign for the market.
Inside bars after "big" moves can and do frequently indicate impending reversals.
I'd rather see a more narrow range inside bar though. Like everything else, we'll have to wait and see.
It's a spinining top.
Doesn't mean much except for great indecisiveness.
there could be an explosion to the downside on an continuation i think
I got to agree with you ... that candlestick doesn't show any support coming in ...
The high for last week was 1067 and the low was 865.
I guess if it breaks 1067 more upside or if it breaks 865 more downside.
Means nothing, how can one bar have any significance on such big world crisis.
Even hammers on huge volume at this point are guilty until proven innocent.
Looks like narrow range (NR7) inside bars on SPY and QQQQ today.
Another poster said they are not "significant", but that would depend on one's trading strategy. For me they are very significant
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