- The daily Chart is showing a Shooting star candlestick pattern. If we consider it as a doji then it becomes the variation of the shooting star that is the Grave Stone Doji. Both are bearish when seen at the top of the trend.
- Real weakness will be seen if the price starts trading below 10 dma and makes a successful close below this moving average. But a close below 10 dma will be viewed with suspicion by the bears because every time the bulls managed to come back from this level.
- Lets see if the bears are able to follow up with their selling tomorrow.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
October 26, 2010
S&P 500 Analysis after closing bell
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