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Old 08-27-2007, 01:37 AM
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Re: DJIA Candles

One thing that could explain the light volume is the vast array of economic news coming this week. For example we have the GDP, CCI, FOMC minutes, and Consumer sentiment all in the same week, so I would imagine volume is reflecting that and the rise in price is due to people buying ahead. Most likely we'll get a report that says, "everything is fine!" markets will rally then later shit will hit the fan. Should be an interesting week, good find on that candle btw.

I also believe that the charts can "tell the future" if you know what I mean. For example I've seen charts setup before earnings that give me an idea of which way the stock will move when it's announced. Sometimes I'm right and sometimes I'm wrong, usually once I'm wrong I see something in the chart that I should have noticed. I believe we're seeing the same kind of setup in the Dow right now.

Thanks about the technician job. That would be a fun thing to do since I love reading charts. For the record, I'm 19 and future plans are to move to a popular trading city and work at a fund or a big bank so I can trade.

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