$SPX Bearish Harami on Daily chart
I'm not that big on candlestick patterns, but a Bearish Harami is essentially a failed continuation of a prior bullish session(s) or rally.
SPX posted a bullish close on the 12th and the 13th, but failed to follow through with a third session on Monday. Instead you saw a choppy session where the bulls and bears tugged a bit intraday, but the SPX lost steam at the end of the session and posted a red candlestick.
It was also fairly indecisive so while one can say that it's a toss up for tomorrow, you'd rather bet on a continuation of the larger downward trend that we're in, rather than some sort of coin flip reversal.
Same daily stick pattern can be seen on the NDQ (Nasdaq 100) and RUT (Russell 2000).
SPX posted a bullish close on the 12th and the 13th, but failed to follow through with a third session on Monday. Instead you saw a choppy session where the bulls and bears tugged a bit intraday, but the SPX lost steam at the end of the session and posted a red candlestick.
It was also fairly indecisive so while one can say that it's a toss up for tomorrow, you'd rather bet on a continuation of the larger downward trend that we're in, rather than some sort of coin flip reversal.
Same daily stick pattern can be seen on the NDQ (Nasdaq 100) and RUT (Russell 2000).
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