Category: candlesticks
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SKX Ready For Pullback
I took a short position today in SKX. The stock is extended and today’s indecisive price movement on high volume leads me to believe a pullback is in order.
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More on the Overbought Status of Apple
Last night I talked about the “rubber band” short setup for Apple. If the stock heads into the close with the same candle pattern that has emerged this morning, I would expect a pullback based on an early “evening star” candle formation. My testing and experience tells me that this…
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SPY at a Glance
The doji candle printed Friday, which follows a bounce on low volume with overbought stochastics, leads me to believe we’ll see a pullback this week.
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SPY Prints Possible Reversal Candle
Believe it or not, although SPY was down almost 4 percent today, technically it was a good day. The index printed a bullish “long tail” candle on massive volume, while the Worden T2108 indicator at extreme oversold levels. Generally, this ia a clear reversal signal, at least short term. The…
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A Bullish Divergence in AAPL?
Frequent e-mailer and one of my most loyal readers, Hal B., asked about a bullish divergence setup in AAPL. I don’t have annotation capabilities from my current locale, so bear with me as I explain the chart. I do see a slight divergence that might be used for an extremely…
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Market Notes: Indecision
Talk about your emotional swings. I laughed, I cried, and in the end I am merely content. Both the S & P 500 and the Naz closed up slightly after a wild day that saw both bulls and bears doing the profit dance. Take a look at this chart of…
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Chart: LVS
LVS has shown solid accumulation during the uptrend. If today’s hammer is confirmed by a close above $130 tomorrow, we could see another leg up.
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SNCR: No Longer an Ideal Pullback Candidate
I received an email from a reader who asked if today’s pullback in SNCR was an entry signal. My answer was a not so subtle, “Not on your life!” In last night’s chart post, I mentioned that I liked SNCR on a pullback. Those that have been reading me for…
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Chart: APPL
Earlier today, I mentioned that I felt there was a good chance AAPL would hold it’s rebound from the lows of the day and print a long tail at the close. Sure enough, the stock closed near it’s high and looks ready for another leg higher, assuming we get confirmation…
Paul J Singh 