The long Upper and Lower Shadows today formed an imperfect Spinning Top pattern, the Real Body is on the larger side of ideal for the pattern, which creates a neutral tone into the new week. Bulls can point to a good base of buying activity over the past few sessions, but bears can rely on the failed break above the June high, 125-09. Weekly charts formed an imperfect bullish Engulfing pattern–the open of the week was not below the close of the preceding week, both are 124-07. The weekly pattern might be just enough to give bulls an edge if gains are achieved early.
Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.