Being able to identify whether last week’s positive trading was merely a bounce or a full-scale reversal was made easy to analyze based upon the signal created on Friday. The major indexes all produced bearish Harami’s. Even though they did not occur in the overbought condition, they did occur at an important technical level, the T-line and/or the 50 day moving average.
August 12th Daily Market Comments
Being able to identify whether last week’s positive trading was merely a bounce or a full-scale reversal was made easy to analyze based upon the signal created on Friday. The major indexes all produced bearish Harami’s. Even though they did not occur in the overbought condition, they did occur at an important technical level, the T-line and/or the 50 day moving average.