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Ricochet Romance
The Dow Industrials Index bounced hard off its January 22 low. The price bar of the Industrials’ Daily chart for that day shows a picture-perfect very large “Hammer†at the end of a long decline, which foretold a reversal of trend and a rise in prices. It was confirmed the next day by a tall white bar sporting a very long lower shadow, or tail. Three bars together, as a group – the Hammer, the black bar which preceded it, and the tall white bar which followed it – were a variation on a “Morning Star,†which is a bullish…
17Feb2008 | William Kurtz | Comments Off | Continued
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