Thursday, August 9, 2012
29:40:05; Expect more up 2moro
Related to light blue 29:20:05/1:26:05/4:26:05(3,8,11,13,37,40). Formulas that lit include: EQUIVOLUME HA BEARISH ADVANCE BLOCK; HA RANGE DEMARKIAN OSCILLATOR GRID =6; % CHANGE DEMARKIAN GRID =22; POSITIVE SLOW %K-%D DIFF; # OF 29:8:05 SECTION 2 TRUES PER ROW <2. An MTI Buy flashed yesterday.
BEARISH ADVANCE BLOCK
Three consecutive white days with higher closes each day.
Each day opens within the previous body.
Each day displays deterioration of the upward move as shown with the long upper shadows on the 2nd and 3rd days.
Bullish Three White Soldiers
Deliberation
Psychology...
This formation is similar to the Bullish Three White Soldiers formation. However, the Bearish Advance Block chart alerts traders to the weakness of the upside price action since the close of the second and third days are significantly less than their highs.
(
note: it was a Heikin-Ashi Bearish Advance Block, which suggests recent consolidation rather than impending reversal)
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