As of 11/20/2024
Indus: 43,408 +139.53 +0.3%
Trans: 17,002 -26.31 -0.2%
Utils: 1,055 +1.25 +0.1%
Nasdaq: 18,966 -21.33 -0.1%
S&P 500: 5,917 +0.13 +0.0%
|
YTD
+15.2%
+6.9%
+19.7%
+26.3%
+24.1%
|
 46,000 or 43,000 by 12/01/202418,000 or 16,600 by 12/01/20241,075 or 1,000 by 12/01/202420,000 or 18,400 by 12/01/20246,100 or 5,800 by 12/01/2024 |
As of 11/20/2024
Indus: 43,408 +139.53 +0.3%
Trans: 17,002 -26.31 -0.2%
Utils: 1,055 +1.25 +0.1%
Nasdaq: 18,966 -21.33 -0.1%
S&P 500: 5,917 +0.13 +0.0%
|
YTD
+15.2%
+6.9%
+19.7%
+26.3%
+24.1%
| |
|
46,000 or 43,000 by 12/01/202418,000 or 16,600 by 12/01/20241,075 or 1,000 by 12/01/202420,000 or 18,400 by 12/01/20246,100 or 5,800 by 12/01/2024 | ||
My book,
Encyclopedia of Candlestick Charts
If you click on the above link and then buy the book (or anything) while at Amazon.com, the referral will help support this site. Thanks.
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The name of this candlestick describes its appearance: short and white. It acts as a reversal about 52% of the time and it is common with a frequency rank of 54. That is mid list. Performance is dreadful, ranking 85 out of 103 candle patterns, when a rank of 1 belongs to the best performing candle.
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Theoretical performance: Reversal or continuation (indecision)
Tested performance: Reversal 52% of the time
Frequency rank: 54
Overall performance rank: 85
Best percentage meeting price target: 95% (bull market, up breakout)
Best average move in 10 days: -2.62% (bear market, down breakout)
Best 10-day performance rank: 61 (bull market, down breakout)
All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts. The above numbers are based on hundreds of perfect trades. See the glossary for definitions. |
 Short White Candlestick
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In theory, the short white candle cannot make up its mind between a reversal or continuation of the existing trend. In the real world, it performs as a reversal 52% of the time, which is close to the theoretical indecision.
The candle appears less often than you might think, ranking 54 (mid way down the list of 103 candle patterns). Once price breaks out from the candle (a close either above the top or below the bottom of the candle), then price doesn't move far. The drop in a bear market is just 2.62%, well below the 6% move scored by the top players. The overall performance rank is 85, which is poor. Nevertheless, the one redeeming quality is price almost always meets the measure rule target (the height of the candle added to or subtracted from the breakout price for up/down breakouts, respectively). The best performance over 10 days ranks a dismal 61, where 1 is best.
| Characteristic | Discussion |
| Number of candle lines | One. |
| Price trend leading to the pattern | None required. |
| Configuration | A short candle with shadows shorter than the body. |
If you want a few bones from my Encyclopedia of candlestick charts book, here are three to chew on. The pages refer to the book where the tips appear.
No one cares about short white candles, but they do hint that the buying demand or selling pressure is waning. The day before the short white candle appears at A, a tall white candle prints on the chart, suggesting a powerful move underway. When the short white candle shows, the bulls and bears are almost evenly matched, but the bulls win out because the candle is white and not black. In this case, a small gap attests to the buying demand powering the stock higher but the short candle size is a clue to a potential reversal.
That happens a day later when a tall upper shadow pokes out from the next candle. Price declines for several days after that.
-- Thomas Bulkowski
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