While not a doji bar, a spinning top right at the resistance level is not something you want to see. To me, it has the same effect as a doji bar at the resistance which is the possibility of a top in the making.
We will have to see what tomorrow brings. I’m betting that the market may correct in the next few days simply because of the spinning top bar today.
Today was not a good day for my port. $LRAD took a hit and failed to get back up.
From the weekly chart above, the next support is $1.84. I’m not worry about this one. I’m still holding.
$BIOC took a small tumble and dropped below the symmetrical triangle.
Next support is now $2.51. Notice today is a spinning top next to support, so a bounce tomorrow is possible.
$ONCY dropped a bit more but the price is still inside the flag pattern.
Price did recover some before close. A bounce is needed tomorrow to bring price back above the 79 & 89 MA.
$AKAO and $AMRN dropped slightly and did not affect the chart outlook, so I will skip the charts today.
$ARTH finally had a correction day. It is healthy to have a correction after a strong run.
Price is still above the 5 MA which is very bullish.
Due mainly to $LRAD drop, my port gave back another 2.5% for the day. YTD gain is now at 3.8%.
Main port: LRAD, BIOC, AMRN, AKAO, ONCY and 4.3% Trading port: ARTH (up 42.9%)
My 2 cents.
Categories: Daily trading Journal