Today's high of 2247 matches Friday's high resulting in a bearish tweezer top reversal pattern in candlestick terms for the NASDAQ. Today's close was pretty much a match as well so on the day we did basically nothing. I'm noticing a lot of reversal patterns setting up on individual stocks as well. Tomorrow's economic calendar includes PPI and housing starts at 8:30, both of which could set the tone for tomorrow's trading.
Monday, September 18, 2006
NASDAQ Technical Picture - Bearish Tweezer Top
Today's high of 2247 matches Friday's high resulting in a bearish tweezer top reversal pattern in candlestick terms for the NASDAQ. Today's close was pretty much a match as well so on the day we did basically nothing. I'm noticing a lot of reversal patterns setting up on individual stocks as well. Tomorrow's economic calendar includes PPI and housing starts at 8:30, both of which could set the tone for tomorrow's trading.
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