Thursday, May 21, 2009

Futures Pointing to a Lower Open...

BMO - ES -5 and NQ -8 futures are lower in pre-market trading pointing to a lower open. Could any of these patterns be short term bearish? (click image to enlarge)

At the Open on Thursday SPY – bearish engulfing KOL – black shooting star FAS – bearish engulfing URE – bearish engulfing USD – black shooting star STT – bearish engulfing ZION – black candle pullback to 20 DMA EBAY – black shooting star ADBE – black shooting star at 200 DMA WYNN – black spinning at 30 DMA SCHN –white shooting star STLD – white shooting star JNPR – black shooting star CTV – black spinning top near resistance OSG – black shooting star EL – black shooting star NFLX – shooting star doji JOYG – shooting star doji

2 comments:

Anonymous said...

I don't know about anyone else, but my rules just kicked me out of about 15 short term positions. For me the flag is red.

Oh well, back to sifting for nuggets...

Dave Gorman

Ken M. said...

Definatley some bearish signals in those charts .. resistance and bearish candles... with the gov't consistantly throwing everything and the kitchen sink into the press to keep the markets up it seems playing put's is a little tough. What are your thoughts on this ? I was just saying to a friend this morning that right now might be that time we get some follow thru to a rollover ????

Anything else happening with your questions about trading futures ?