Just a quick post tonight, as the twins are keeping me up late! Last Friday’s price action put in a bearish evening star pattern, which is one of the most reliable trend reversal patterns in all of Japanese Candlestick trading. It did so on very strong volume.

Due to this price action, combined with a bearish MACD cross over, I would predict the S&P 500 continues to see bearish pressure. A break below 1131.39 would indicate a top is in place with 72% reliability. Learn more about the evening star japanese candlestick pattern

Stay tuned tomorrow for a forecast to see how low the s&P might go.

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