Engulfing Candles Menace Big Tech

[OZER]

Price action in the market has grown more cautious, especially toward technology stocks.

The first big pattern occurred on Monday, when the SPDR Technology ETF jumped to a new all-time high above $175. But it was negative within an hour and closed the session under Friday's low – a big bearish engulfing candle.

Similar patterns appeared on November 22 and December 1.

Next, gains have narrowed in Big Tech as Apple accounts for more of the upside. (Consider the second chart comparing XLK to AAPL .) Meanwhile former workhorses of the sector like ServiceNow and Adobe have teetered.

Finally, MACD made a lower high this month as XLK made a higher high – bearish divergence.

The weakness resembles patterns earlier in the year as bond yields jumped. This time, it occurs shortly before the Fed is expected to accelerate tapering. Is it the start of a new trend as Jerome Powell looks to unwind historic stimulus?

[e_m_i_l___]

does engulfing pattern and power move same?

[jc3833]

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[siaandra]

hey mate how do you set your stop loss using your atr indicator and how do you know if it is in a low volatility are what should it be below

[Killer_squirrel]

Made it to the end  very helpful and informative, am definitely gonna use CEST

[Azzaome]

Ive watched a million forex traders and none of them come close to simplifying trading like you just did

[teratism]

Thank you!!!!!!!!

[ChamDaChamp]

Great !!! Love the explanations of using the double bottom with previous support or resistance

[shamefaced]

One of the best s on , hands down!!

[jobe697]

What platform can you use to see the candles chart for free?

[RANA]

can we use this for trading options ??!!!!

[chief156]

Power

[microgroove]

GREAT MAN

[amor]

2nd candle would be a hammer candle correct? Which is a bullish reversal pattern seen at Dow trends right ?-

[owades]

Great teacher indeed