You've got to ask yourself one question

You've got to ask yourself one question
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'Do I feel lucky?' Well, do ya punk? Dirty Harry 1971
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Monthly Chart: Today the S&P 500 made yet another 52-Week high. If you look at this months green candlestick you'll see we are near the highs. Going back 10 years there has been only 1 occasion where a green candlestick has closed off its highs. This was in December of 2003 (marked with a white arrow) and the following year traded in a very tight range...

 

[Birchtree]

I feel so lucky because I'm set up to hit the big score. All I really have to do at this point is sit tight and let the market come to lucky me - but I'm greedy and will be buying anything that moves backward, I'll buy anything that's moving forward and I'll certainly buy anything that is standing still. I'm an accumulator of fine wall flowers. A collector of future income streams.

 

[amoeba]

I am buying; and put in another 25% today. I feel lucky. I even put 15% into F-fund (AGG is near a 52-week low) to see if I can eek anything out of that on a bottom-fishing expedition. I will sell into any overbought bounce in any of the funds if it occurs this wk (rebuy next w/ new IFTs).

 

[strates]

This month also appears to be the only Marubozu candlestick on that chart. The only thing I can find seems to suggest price control by the bulls, so I think that means the momentum should continue.

But apparently November's candlestick is traditional sign of reversal of the previous trend. In this case, it would have suggested December would be a down month, which hasn't happened. So I'm not sure how much to trust the charts right now.

Also, it doesn't seem that green candlesticks fair real well against that upper edge of the Bollinger band. Just an observation.

 

[JTH]

Although I've spent a considerable amount of time studying candlesticks, I don't give single sticks much weight because the timeframes I use don't warrant that much attention to detail. I do like to use them in patterns, the shortest being tweezer top/bottoms and have found this year they worked fairly well on 2-day charts covering the major indexes. Also, I do pay attention to exhaustive spikes that are accompanied by spikes in volume, but I always wait for confirmation.