Stock Market Analysis - 11-13-2008
November 13, 2008 at 11:01 pm · Filed Under Broader Market
The day started out down and broke the bottom line briefly, but made a furious comeback to form a bullish engulfing candlestick (bullish reversal pattern) on strong volume. We still have the same levels of significance right now at $110, $100, and $85, but as more time passes the $100 level will creep downwards. If the market continues up to $100 on strong volume, I would be wary of shorting aggressively and would anticipate the entry in the $105 to $110 range instead. Tomorrow should be telling.
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