The Perfect Time and Place for a Bullish Reversal

By | July 1, 2015

The S&P 500 Index is near a key Fibonacci time period in the time zone sequence measured off the 2009 low, and is testing its 200 day moving average. Monday’s large dark candle which was followed by Tuesday’s narrow opening and closing range doji candle, sets up the possibility of another morningstar reversal formation like we saw in March and again earlier this month. All that is missing is a large white or up day candle to complete the three day bullish reversal transition pattern. That may seem like a tall order but with this market anything is possible.

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