October 22, 2010

DOJI Candle of S&P 500

  • S&P 500 Shows a doji in daily chart with long upper and lower shadows. This indicates big indecision in the movement of the price. Indecision has come at the top of the trend. will the doji help change the trend in favour of the bears?
  • Despite the noise in lower time frames the daily chart shows how the technical set up is still favouring bulls. There is not major shift in the trend the ascending channel is in place and price is safely moving above the 20 day moving average.
  • Price testing 20 DMA may signal a trend change.

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