Wednesday candlestick for Dow is not exactly a 'shooting star' but can be considered bearish especially with a low trading volume of 4.7 billions which is the lowest since January 2009. Watch out for the 'head and shoulders' formation. Neckline is around 8300.
S&P has a 'shooting star' candlestick, a red candlestick tonight (Malaysia time) will signal the begining of sub-wave 3 which will travel below the neckline for 'head and shoulders' formation.
Nasdaq has the worst candlestick, it is a 'grave-stone Doji' (an inverted T), it indicates a failed rally and a potential bearish reversal. Nasdaq is in the process of forming a 'double tops' reversal pattern. Very bearish. Keep cash.
Wednesday candlestick for Dow is not exactly a 'shooting star' but can be considered bearish especially with a low trading volume of 4.7 billions which is the lowest since January 2009. Watch out for the 'head and shoulders' formation. Neckline is around 8300.
S&P has a 'shooting star' candlestick, a red candlestick tonight (Malaysia time) will signal the begining of sub-wave 3 which will travel below the neckline for 'head and shoulders' formation.
Nasdaq has the worst candlestick, it is a 'grave-stone Doji' (an inverted T), it indicates a failed rally and a potential bearish reversal. Nasdaq is in the process of forming a 'double tops' reversal pattern. Very bearish. Keep cash.
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