SPY..Outside Week Bearish Engulfment
It's the end of the week so I checked all of my weekly charts and what did I see? An Outside Week Bearish Engulfment in the SPY. The SPY's didn't close on the low for the week and the opening price was unchanged from the previous week's open but this still qualifies it as a bearish engulfment.. It is what it is folks.
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4 comments:
Kevin, what's your take on Nasdaq? And Russell 2000? They look crappy to me...
Any pending earnings left that could change ivestors minds?
I think gdp will match expectations at the best, can't beat them...
Are you new to my blog? I am BEARISH!!!!!:-) Russell looks weak too...We'll see what happens.
No, I'm not that new to your blog. Maybe a month or almost.
Are you bearish on fundamentals, too? I've learned from "Dennis Gartman rules" that you should take position only if fundamentals and charts look in one direction.
I'm mostly bearish on fundamentals right now, but I'm 99% novice in charting. Some things I just have too little experience to apply -
for example, does Nasdaq look like forming head and shoulders now?
My reasons for being bearish are mostly technical but I do see some bearish fundamentals as well. I don't see a Head and Shoulders in the Nasdaq...maybe after a few drinks I might.(wink)
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