Wednesday, June 29, 2011

S&P Futures update

@ 1302 as I type, surprise surprise. I waited after 12:30 pm to update, because 4 hr candle closed then. And what do we have here?? A hanging man folks. No, nobody died. But "hanging man" is a Japanese candlestick chart pattern formation, which if found at the end of an uptrend, usually results in a bearish reversal. We wait for the next candle to close to form our opinion. Could be a fake as well. Lets see...

Please note that NDX futures NQU1 is even better, body is red and price opened below on the next candle...

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