Dojis at the Highs – A Look at DIA QQQQ and SPY

Bycjrosen

All three major US Stock Market Indexes – along with their respective ETFs – have formed two dojis in a row above their upper Bollinger Bands. While this certainly doesn’t guarantee a reversal, it’s at least a warning sign that would benefit us to take a closer look.

Let’s see the price moves of the DIA, QQQQ, and SPY off their March lows and take a look at the current doji candles along with other instances where at least two dojis in a row formed… and see what happened next.

Stepping Inside Tuesday’s Powerful Trend Day

Bycjrosen

We finally got that ‘oversold bounce’ we’d been anticipating – though that was an understatement!  Let’s step inside Tuesday’s “Trend Day” action to see how one could have profited from the intraday structure and managed risk accordingly. DIA 5-min (March 10, 2009): First, the daily structure (in terms of two dojis in oversold conditions at…

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Interesting Lessons from Friday’s Almost Trend Day Down

Bycjrosen

Wow – what a day.  We had another surprise news rally that drove the market higher against the overwhelmingly bearish backdrop.  It was a near-repeat of February 12th, when all signs pointed lower though price rallied sharply into the close thanks to a news leak… but that’s not what’s important.  Let’s look inside the DIA…