Thursday, June 12, 2008

DOW: Bullish Harami (but a weak one)

The DOW closed up for the day and formed a Bullish Harami candle pattern on the daily chart, but the pattern is very weak because the white body is very small and it closed down in the lower 1/3 of the previous days body. This is usually a sign of reversal, but it must be confirmed with a higher close the following day. We'll have to see how tomorrow plays out.

DOW Daily Chart:

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