Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Monday, March 15, 2010
A Random Observation
I was just looking at the longer term view and just so happened to notice a possible pattern with the 1576 top and the current price action. Both look like double tops but what I also find to be interesting is the similarity in the candlestick patterns themselves.
The first 3 candles for each period are nearly identical and for some reason it just stands out as though something is about to repeat. Who knows for sure. Again, this is just a random observation.
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That's downright eery! Hum! Looks like a repeat setting up for sure. Looks like the Market formed a "hanging man" candle today. If selling will pick up this could prove to be a good pullback. Then we will have to see what else develops.
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