Evening Star Report

For anybody who needs confirmation that the rally is over HAS (Hays PLC) has given an evening star candle pattern tonight.
on the contrary an evening star presages prices falling.
On the assumption that it is that nasdaq driving HAYS price down (rather than the other way round) it looks like a retracement (at least) is in progress.

Your shorts are not likely to burn tonight.
I was at home today - allegedly studying for some exams, but periodically looking at ADVFN for Level 2/ intraday charts.

The retracement is confirmed on many stocks by the sea of blue at the bottom as small punters gobble up shares at cheap prices......the same ones sold by the 8 or 9 towering red columns above them, presumably institutions / smart investors dumping them.

Could be a rough week ahead.....


forgive my ignorance but although I'm familiar with the general concept of level 2 I've been too tight fisted to obtain the service. APart from that level 2 screens at work might just be going too far.

However I would value an objective opinion about its value.
there are different providers of level 2 - I use ADVFn, but other members use another provider, and feel it is far superior.

One thing I like about ADVFN is that it know includes the time of every order, as well as highlighting all those placed in the last few minutes in a different colour. Useful to see rapid changes in buying-selling pressure.

Another useful tool discovered tonight are "heat maps" at www.nasdaq.com. Using colours again, and passing a cursor over an equity gives a small intraday graph, stats etc.

The bad news is that on the Nasdaq 100, most were down. And most of these closed at they lowest price of the day...
Going back to Hays PLC (HAS) after the evening star formation it has now formed a double top (more like a pipe top) and looks set to fall to 275p.

Any views?

Interesting one that - does look vunerable to me.

Has the support around March 200 now become resistance ?