After a hard selling like we’ve seen in the markets over the past week, a reversal requires a confirmed reversal signal. Yesterday’s bullish Harami had the potential of starting the markets backup but as always, a candlestick reversal signal requires confirmation. With the continued selling in the indexes, especially opening below the open of yesterday, the strength of the selling is still evident.
August 7th Daily Market Comments
After a hard selling like we’ve seen in the markets over the past week, a reversal requires a confirmed reversal signal. Yesterday’s bullish Harami had the potential of starting the markets backup but as always, a candlestick reversal signal requires confirmation. With the continued selling in the indexes, especially opening below the open of yesterday, the strength of the selling is still evident.