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How to Beat the Market $SPX $SPY $DJIA $DIA
August 22, 2012
- Many say that the last two candles were a hanging man followed by a (kind of) shooting star. Normally, each one points to a top/reversal. When combined with the resistance @1,422, the top is a fulfilling prophecy.
- From a heikin-ashi perspective, we look only at the lowest pane, at haDelta and its SMA where we see bearish signs (lower peaks, a bearish haDelta crossing) inside a consolidation pattern (the symmetrical triangle).
- A bearish confirmation is issued only when the SMA (red) will become negative. Until then, unconvincing selling.