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Saturday, November 3, 2007

The Bonddad Blog: Two Charts of the SPYs That Should Cause Some Concern

Another point of view from The Bonddad Blog.

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z-stock said...

F8, i think your SPY chart is spooky...

I don’t have any technicals but i think the banks are going down some more on Monday, which means SPY is probably going down. I think what’s key are the DOW futures tonight
DIA closed with a bull candle.
bull candles never engulf.
They either add to the last close, or they retest down to the bottom of the candlestick. So they are extreme 50/50....
if the DOW futures are up, then the next candle will be white, and vice versa, if the DOW futures are down, then the next candle will be red