The Bullish Harami - Inverted Hammer Rally

In our audio commentary last night we pointed out the large number of bullish harami and inverted hammer candle patterns that were on different charts. We also pointed the same in last night's Chart Signals posting on the DJIA, S&P, Nasdaq and Russell. In the audio commentary we mentioned that it would be typical to see a rally of some degree. Today there is a rally in the broad indices. In fact almost every stock on our watchlist except AAPL, USO and GRMN is up a little, and most are up between 1 to 7 points. We also mentioned that if a rally did occur, to look for the rally to run out of strength in the MA and horizontal candle resistance areas and watch for bearish opportunities that could appear at that time. We observed that the rally coming off these bullish haramis and inverted hammers could last one to three days. AAPL Breaks Double Top Support The exception is AAPL which broke its double top support and fell below 166 rallied to 174 and is now falling below 170 again. The double top support break target is in the area of 152 for AAPL. We had mentioned to watch for a potential break in last nights audio commentary and also pointed out AAPL in yesterday's Stocks to Watch post before the close. Today's Action as of Mid-Day: Moving Up: BIDU, GS, FSLR, X, MA, PCLN, STRA, DECK, MEE, SCHN, SOHU, MOS, CLF, CNX,CF, LEH, FWLT, AMZN, NUE, NKE, AGU, V, IBM, POT, RIMM, MS, DRYS, MOS, MON, IPI, BTU, CELG