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REPORT FOR FRIDAY AUGUST 8, 2008



HAMMER CANDLE

Candlestick pattern where there is a relatively small body candle that sits on top of a relatively long lower shadow. It is more significant if it occurs in the vicinity of recent lows
 

SPINNING TOP CANDLE

Candlestick pattern where there is long lower and upper shadow. There should be a candle body to distinguish this from a Doji formation. This formation is often seen at market turning points
 

DOJI CANDLE

A candlestick pattern where there is either no body or a very small body. In other words the open and close are the same or almost identical.The pattern takes on added significance if the preceding candle has a wide body.
 

HANGING MAN CANDLE

Candlestick pattern where there is a long lower shadow and negligible upper shadow. More significant when it occurs in the vicinity of recent highs
 

SHOOTING STAR CANDLE

This is often a bearish pattern especially if it occurs after a sustained upward move. The pattern shows the stock opening higher, trading still higher creating a long upper shadow and then closing at or near the lows for the day. The candle body is relatively small and the lower shadow should either be small or non-existent.
 

MORNING STAR

A three day bullish reversal pattern. The first day is in a downtrend with a long red body. The following day gaps lower and has a small real body.The last day is a green candlestick that closes above the midpoint of the first session's red body.
 

EVENING STAR

A bearish reversal pattern that is especially significant if it occurs during a sustained uptrend. It is a three day chart pattern in which the first day shows a candle with a long green body. On the second day there is a gap up with a small body candle registered. On the third day, a candle with a relatively long red body is recorded. Ideally for the pattern the most recent day's close should be below the midpoint of the first day's candle range.
 

HARAMI-INSIDE DAY AFTER PEEK TOP

Current session is an inside day following a peek at a 20 period high value. An inside day is where all of the current range is enclosed by the previous session's range
 

HARAMI-INSIDE DAY AFTER PEEK BOTTOM

Current session is an inside day following a peek at a 20 period low value. An inside day is where all of the current range is enclosed by the previous session's range.