Candlesticks with a long upper shadow, long lower shadow and
small real body are called spinning tops. One long shadow
represents a reversal of sorts; spinning tops represent indecision.
The small real body (whether hollow or filled) shows little
movement from open to close, and the shadows indicate that both
bulls and bears were active during the session. Even though the
session opened and closed with little change, prices moved
significantly higher and lower in the meantime. Neither buyers nor
sellers could gain the upper hand and the result was a standoff.
After a long advance or long white candlestick, a spinning top
indicates weakness among the bulls and a potential change or
interruption in trend. After a long decline or long black
candlestick, a spinning top indicates weakness among the bears and
a potential change or interruption in trend.
Thanks for the answer Steve. I know what spinnig tops are. I was
more interested in the bias for tomorrow, which in my mind was a
bearish one (for S&P) looking at the intra day's charts. You
mentioned this in tonight's letter. Let's see what is going to
happen tomorrow.
If market closes like it's
Posted by mulisko on 10th of Mar 2016 at 03:34 pm
If market closes like it's right now, how would you guys interpret amazing dojis on S&P and $VIX ?
mulisko, would be interested in
Posted by maggi3322 on 10th of Mar 2016 at 06:02 pm
mulisko, would be interested in that answer if you received one
Maggi - I provided an answer to Mulisko below so please read it.
Here you go Mulisko: Candlesticks with
Posted by steve on 10th of Mar 2016 at 03:45 pm
Here you go Mulisko:
Candlesticks with a long upper shadow, long lower shadow and small real body are called spinning tops. One long shadow represents a reversal of sorts; spinning tops represent indecision. The small real body (whether hollow or filled) shows little movement from open to close, and the shadows indicate that both bulls and bears were active during the session. Even though the session opened and closed with little change, prices moved significantly higher and lower in the meantime. Neither buyers nor sellers could gain the upper hand and the result was a standoff. After a long advance or long white candlestick, a spinning top indicates weakness among the bulls and a potential change or interruption in trend. After a long decline or long black candlestick, a spinning top indicates weakness among the bears and a potential change or interruption in trend.
Thanks for the answer Steve.
Posted by mulisko on 10th of Mar 2016 at 09:29 pm
Thanks for the answer Steve. I know what spinnig tops are. I was more interested in the bias for tomorrow, which in my mind was a bearish one (for S&P) looking at the intra day's charts. You mentioned this in tonight's letter. Let's see what is going to happen tomorrow.
it felt bearish for me
Posted by morton7 on 11th of Mar 2016 at 08:20 am
it felt bearish for me too but it did manage to stay above the 9 day ema so still bullish.
With today's candle best to
Posted by steve on 10th of Mar 2016 at 10:42 pm
With today's candle best to keep an open mind...nothing definitive
So, wasn't I right yesterday
Posted by mulisko on 11th of Mar 2016 at 04:13 pm
So, wasn't I right yesterday about bearish bias for today
You gonna love this martket