Posted in Newsletter
By: Tom Gentile on March 24th, 2021 • 1 min read
I am highlighting what are seen as bearish candle reversal days (top image) which can also be seen in OHLC bars (bottom image). A bearish reversal day is formed when a security closes lower than it opened.
Intra-day it was trading higher from the open and looked bullish, but then it reversed course and traded not only lower from its high, but from its open as well. It may not signal a full scale reversal of the bullish trend but indicates the prospect for lower pricing. (see my potential support for SPY below).
C1P Chief 1-Percenter