On a Japanese Candlesticks weekly chart of the S&P500, we had a shooting star this week...
This a bearish reversal pattern...Look it up on StockCharts.com - ChartSchool - Introduction to Candlesticks...
In addition, the high of the S&P500 this week was higher than last weeks high and the close this week was below last weeks close...
This is "usually" a sign of distribution...and there "maybe" a lot of buying climaxes this week...
On Monday Investors Intelligence will report the buying and selling climaxes for this week...
Past performance is not indicative of future results.
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