BERNANKE CAUSES OMINOUS TECHNICAL PATTERN $SPY $QQQ $ FSLR $TBT $SCTY $TBF $AAPL $GLD $SLV
In the wake of Bernanke’s testimony before Congress and the release of Federal Open Market Committee (FOMC) meeting minutes, the U. S. stock market traced an ominous technical pattern.
In traditional technical analysis, this pattern is known as an “outside day.” The outside day is visible on the chart of the SPDR S&P 500 ETF Trust SPY.
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A similar pattern is seen on other broad index ETFs such as PowerShares QQQ Trust Series QQQ and iShares Russell 2000 Index Fund IWM .
An outside day is characterized by a high higher than that of the previous day and a low lower than that of the previous day.… Please click here or the title below to read more.