Weekly Recap 3-21-2014 – Shooting Star Reversal Pattern

Most of the week was bullish and SPY made a new high but with Friday’s decline the weekly candle looks like a classic shooting star pattern. Shooting star is a known bearish reversal pattern that happens mostly at the top of trends, it still needs confirmation next week but it increases the odds for a more serious correction.

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2014-3-21-Weekly

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