Category Archives: Daily Charts

Caution! – Bearish Patterns On The Major Market Index Charts

On Thursday it looked like a triple top had formed on the Russell 2000 chart. Three consecutive bearish engulfing candles formed at channel resistance and it appeared the consolidation pattern was going to resolve to the downside. The analysis was posted here. As it turned out the small-caps were hit hard on Friday and the… Read More »

Three Bearish Engulfing Candles On The Russell 2000 Chart Suggest A Possible Triple Top

A pattern of bearish engulfing candles has formed on the iShares Russell 2000 ETF (IWM) daily chart, which could be an indication that the small-cap sector has made a intermediate term top. In June a bearish engulfing candle formed just below the $170 level. The pattern was repeated again in July and once more just… Read More »