The Traderszone Network

Published in TZ Latest News 18 December, 2015 by The TZ Newswire Staff

Perfect Storm Gets Derailed – Bearish Engulfing Patterns Counter Punch

Monday we saw a perfect storm come together for a short-term bounce. The S&P 500 was short-term oversold after a sharp decline, the index was near support from the mid November low and the seasonal patterns turned bullish on the 10th trading day of December.  These items were noted on Monday morning. Well, we got a reversal day on Monday, a gap up on Tuesday and a gain on Wednesday