Th reversal candles I’ve been waiting for showed up yesterday. There were a lot of hammers and bullish harami made yesterday and most of them were right at the lower Bollinger Band. To give an even stronger buy signal, the stochastic indicator on many of those stocks are flashing a buy signal by turning upward in oversold territory. So it looks like a good set-up to make some buys. The futures are weak this morning, which I actually like. That means that I won’t have to chase anything out of the gate. I’ll simply wait for stocks to take out yesterday’s high before making any moves. The way it looks now that’s not likely, but you never know.
