Blog Post On: 2/23/2010
Unfortunately we cannot make posts each night on the market but are making attempts to do so.
We want to highlight a recurring candle pattern that appeared last night. Highlighted in Yellow are Doji candles. (There are a few other Doji's in the chart that are not highlighted, think of it as "Finding Waldo")
Doji's represent "indecision" and can be turning points in the market. Tie this with prices reaching +2 standard deviations and there was a chance for a pull back, and today the market did pull back. It would have been better to post this last night, but for documentation sake, and future reference, it was posted today.
The chart below is a standard candle chart and not the Heikin-Ashi version.