Gap Spinning Top Doji
Yesterday we saw the SPY gap down and closed with a Spinning Top Doji. I don’t subscribe to the idea of a Doji being a buy signal as many do, I do believe the Doji represents indecision, a time for rest, re-think direction. $270.60 is about 50% of the recent low and recent high making it an important horizontal line to have on a chart. Sellers are still in control and can be easily seen by adding a downtrend line to the tops of price action. It has been my experience more money can be made by trading with the trend, not against the trend and to have patience when you think the trend is turning.
Thanksgiving Week Trade Ideas
With this being a holiday week low market volume, Thursday market closed and Friday a half day I have decided to suspend any new trade ideas until Monday. We will post trade ideas as they appear on LTA-Live Trading Alerts Real Time Market Scanner in the trading room.
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