September 15, 2012

SPY Bull flag and Bearish candle

  • SPY 5 Minutes shows a bull flag pattern.
  • Price has fallen below the cloud of 5 Minutes. So intraday bulls need to get back above the cloud for continuing the trend.
  • 4 Hour chart shows a bearish Shooting start or an Inverted hammer candle. This one need price to follow up with a negative candle as confirmation of weakness.

No comments:

Post a Comment