I was quite reluctant to buy long positions during last week rally. I would like to see more significant correction first.

Yesterday stock markets presented bearish signal. After very strong open with gap up they reversed their course and finished day on their lows. There was also strong volume too.

Below is example of Nasdaq chart. Nasdaq is leader of current rally and bearish reversal candlestick with strong volume signalize that we could see some correction. Correction which is much needed, I think.

What is your opinion ?

This entry was posted on Friday, May 1st, 2009 at 10:47 am and is filed under Stock market chart analysis, Stock market comment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.