Portugal vai ganhar 1.400 milionários estrangeiros este ano

[Camisa Roxa]

Market indices and many stocks formed bullish reversal patterns Friday. Because these patterns suggest a move higher this week, there will be many buy recommendations from services including ours. What may make these higher risk is the fact that most have rallied quite a distance already without an intra-day pause and are at resistance levels. This increases the odds of a position moving immediately in the opposite direction once a long entry is made. It does not mean these bullish setups will fail, but knowing what the intra-day pattern suggests can be helpful to the swing trader. No one wants or expects a position to move against them as soon as they enter, but it can and does happen. When it does, a trader needs to determine if this is significant and checking the intra-day pattern is helpful to determine this.

The chart above is of the S&P 500 Spider, it is similar to what many issues look like currently. The reversal that started Thursday and continued Friday was quite strong. Notice the bearish engulfing bar Friday in the 60-min. chart. As powerful as that bearish bar appeared it turned out to be a buying opportunity. TIP: Bearish indications ignored are often the start of a Bullish move. This rally moved straight up through out Friday afternoon without a pause increasing the odds of profit taking should the market move higher at the open Tuesday morning. This scenario has the potential to develop into that position that moves against a trader immediately once entered above a prior high. Had the Spiders rallied in the early part of the day and then moved sideways all afternoon instead of the current pattern, the odds for significant profit taking diminish considerably. Look at the intra-day patterns of the stocks on your long list, if they look like this 60-min. chart of the Spiders they may experience a pullback before working out as the daily chart is suggesting at this time.