Archive for February, 2010
If I had a hammer….
Posted on Feb 05, 2010 by WHC Bassetti.
We are curious about everything (like Curious George) and skeptical about everything including skepticism. So we are of course aware of candlestick patterns and watch them with some interest. But we do not depend on their interpretation. Finally that comes down to our reading of the good old fashioned chart. We do show a lot of charts in candlestick notation because we think the black and white candles give emphasis to prevailing momentum.
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Analysis to make your head ache — and a systems aspirin to take away the hurt
Posted on Feb 01, 2010 by WHC Bassetti.
Negative indications (as previously pointed out): The downtrend line at the very top, the broken long term uptrend line from March, the very length of the uptrend from March, the false breakout from the rectangle, the piercing of the support line at the bottom of the rectangle, the possible interpretation of the present pattern as a flag, the violence of the present downwave… All these elements would seem to argue for a continued downwave.
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Noted technical analyst WHC Bassetti has over 40 years' experience in the financial markets and is Malcom S.M. Watts III Adjunct Professor of Finance and Economics at Golden Gate University. He is editor of the Ninth Edition of Technical Analysis of Stock Trends, widely considered to be one of the true classics of market analysis.
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