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Evening doji star on Apple … not a good sign.

Source: http://club.ino.com:80/trading/2009/04/evening-doji-star-on-apple-not-a-good-sign/
Posted on Wednesday, April 15th, 2009 | In Investing Lessons, Market Commentary, Trading Lessons

Contributed by: Trading School (http://ino.com) -

Evening doji star — the same as an evening star except the middle candlestick (i.e., the star portion) is a doji instead of a small real body. Because there is a doji in this pattern, Marketclub considers this pattern to be more bearish than the regular evening star.

The market action for Apple on Tuesday created an Evening Doji Star. What this means is that Apple has put in a top.

Coming as it does from the 38% Fibonacci retracement level (see my earlier video on Apple) it would appear that we are going to see more two way action in this market.

We view the major trend as positive for Apple and would like to see how far we pullback from the Evening Doji Star before adding more capital to this market.

Adam Hewison

President, INO.com

Co-creator of MarketClub.com

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In addition to the 35 Trade School seminars we have online, we also have 26 training videos that show you how to get the most our of the market and MarketClub. Adam Hewison, our president created these special flash videos for MarketClub members. Judging from the feedback we have received from our members, it's a feature that is heavily used and well liked. he world. These audio (MP3) seminars and PDF workbooks will have you following along with trading greats like Linda Raschke, Mark Cook and Chuck LeBeau, just to name a few. The 35 seminars in Trade School cover an array of topics including foreign exchange, futures, day trading, money management, stocks, psychology, indexes, options, and more. You can quickly learn from the professionals in Trade School, while saving thousands of dollars in seminar costs!

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