$SPY/$QQQ Bullish Harami PrintsThe ETF's tracking the markets printed some true Bullish Harami patterns for the past two days, which according to some research says that the next days move is up 53% of the time, while the next day is down 47% of the time. See attached figure. If the pattern presents in a downtrend, the smaller the body of the second candle means the stronger the signal. This is a pretty small candle compared to the first, and it would not be surprising at all to see tomorrow be a green day in SPY. However, as noted in linked post, we remain range bound by the weekly Long Legged Doji to between 294 and 282 areas. Until those are broken, expect to see this back and forth. Trade accordingly. Happy hunting, and GLTA!! www.feedroll.com
