Chart Abbreviations:

3BC: 3 Black Crows; 3WS: 3 White Soldiers; BeC: Bear Channel; BeE: Bearish Engulfing; BTC: Buy To Close; BTO: Buy To Open; BuC: Bull Channel; BuE: Bullish Engulfing; DCC: Dark Cloud Cover; EnP: Entry Point; ExP: Exit Point; FW: Falling Wedge; HL: Higher Low; HH: Higher High; HM: Hanging Man; IR: Island Reversal; LBB: Lower Bollinger Band; LL: Lower Low; LH: Lower High; LPP: Lock Profit Point; MBB: Middle Bollinger Band; NABOP: Not A Bottom Out Pattern; NATOP: Not A Top Out Pattern; R: Resistance Line; RW: Rising Wedge; S: Support Line; SLO: Stop limit Order; SMO: Stop Market Order; STC: Sell To Close; STO: Sell To Open; T: Target; TSO: Trailing Stop Order; UBB: upper Bollinger Band;

Wednesday, September 30, 2009

Daily Review 2009-09-30

Last day of Sept trading, 3 indices all closed into red. All 3 monthly candles are green, both COMPQ and SPX have 7 monthly candles in green, last time on SPX was year 2006, 8 greens in -a-row, and NAz was year 2003, 7 greens in -a-row.

Detail after market closed review posted here.

1. DJI Daily:

LL.LH red long leg doji, with volume up, 2nd BC, new weekly low printed, so, far on daily chart it has "3BC + 1 extremely thin volume green bounce candle + 2 engulfing BC", If it adds one more red bar tomorrow, then, it will have 3BC+3BC pattern; for the first time since Jul low, DJI has more bearish looking candles than bullish looking candles on daily chart now.


2. SPX Daily:

LL.LH long bottom leg red hanging man, South Pointer waiting for a bearish confirmation, volume soared, penetrated S3 and 20 ema again... a close below S3, will give it a no support zone all the way to S2. Similar to DJI, 3BC+2BC already... waiting for another black crow tomorrow.

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