DOW

....and all the fib extensions, going right back to 1974, suggest you may well be correct.....

Hit 14727 earlier almost bang on that 50% level.

remo wrote: Marubozu candlestick pattern on the dow. This is quite a rare pattern on the dow.
This shows that the bears are in charge and bigger falls maybe about to come.
Go away in april and come back in october may be true this year
A good entry based on this pattern is if the price comes half way up the marubozu(50%) in this case to 14731 then short with stops above preferably.
Caution on new longs as this could be the signal for a top.

Just goes to show how many traders are aware of that pattern
3 points out..There's still a chance it could hit this level latter on during market hours.

Hi Remo,

Just curious but after reading your Dow post this morning I could see that Afren was showing the same candlestick and sure enough it reached just above the target area and then fell so can I presume that the Marrowboozy play does apply to shares as well as the markets.

Cheers

SRB

Hi Remo,

What would you look for to suggest there could be a change in trend rather than just a correction?

Thanks
Amo

P.S. Good call with the Marubozu

SirRichardBunson wrote: Hi Remo,

Just curious but after reading your Dow post this morning I could see that Afren was showing the same candlestick and sure enough it reached just above the target area and then fell so can I presume that the Marrowboozy play does apply to shares as well as the markets.

Cheers

SRB

Hi srb
Yes it applies to all shares as well.