Replies to post #54394 on SPDR S&P 500 (SPY)

[learningboutinv]

Gleno, still holding on to my 1/4 QLD position from yesterday. My sell order didn't hit which is around the 34ma on the QQQQ 60min ~45.43.

Does $NDX/QQQQ look like a bullish engulfing or is it just me? QQQQ isn't done updating, but it's HOD is higher than yesterdays by 3 cents. We may see another up day tomorrow. Hope the employment #s and OIL reports aren't too bad.




"The bullish engulfing pattern consists of two candlesticks, the first black and the second white. The size of the black candlestick is not that important, but it should not be a doji which would be relatively easy to engulf. The second should be a long white candlestick – the bigger it is, the more bullish. The white body must totally engulf the body of the first black candlestick. Ideally, though not necessarily, the white body would engulf the shadows as well. Although shadows are permitted, they are usually small or nonexistent on both candlesticks."

http://stockcharts.com/school/data/media/chart_school/chart_analysis/candlestick_bullish_reversal_patterns/bullrev2-bulleng-sunw.png






>