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Old 08-19-2007, 03:45 AM
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YM, ES and DJIA Analysis

Alright, seeing as how the last AAPL thread seemed to do pretty well with people offering their inputs I thought we could give it a shot with a current weekly chart of the Dow.

From my newbie perspective, I see a doji but the week still finished up on strong volume. The week opened low near support and the bulls pushed the market higher only to panic and fall back to support. This week came with stronger volume and the market panicked early, then the bulls regained strength to finish at support. Now what's weird IMO is how the week before looks like the bears took control yet we finished higher, and this last week the bulls took control yet we finished lower. How would you take this? I see a lot of indecision, well emotion taking over. You could make the argument that the weeks before we saw a lot of people get shaken out on big volume, and then a ton of indecision to follow with just as strong of volume following after. I guess we wait for confirmation?

I know how I'm going to play this already, but from a purely candlestick/volume view how would you perceive it?
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