Professor’s Comments Update 3/27/2020
Posted by OMS at March 27th, 2020
Here’s a quick lesson for my students:
So far, all that today’s decline has done is form an inside day on the Dow. Inside days or a Harami candlestick pattern (Mother and Baby) in Japanese candle sticks, is usually a reversal pattern, It is almost always found at the end on a significant move. In this case the end of a three day rally.
If the pattern continues to develop, it would set up the potential decline that I see coming and talked about in my early morning comments.
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Not sure of the terminology we use? Check out these articles
The Hockey Stick Pattern
The Creation of Waves and Trends
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Category: Professor's Comments