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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (45490)	2/6/2013 5:46:18 PM
From: Vendit™	Read Replies (2) \| Respond to of 220518

Today’s candlestick can be a firm reversal signal and is more times than not. The candlestick simply means that the bulls beat the bears today as the last trade and most of the daily activity took place at the extreme top of the daily trading range today. The negative part is that the bulls failed to move the price higher than the previous close statistically speaking (5/100th %). I would be wary of taking a position in either direction in the morning until the trend has been established up or down. The S&P is inarguably way overbought. We all know the reason why so I won’t restate the reason.