Doji Anyone?
29th February 2008
In the end, the stock market went absolutely nowhere today, and it did that fairly slowly to boot. The Japanese Candlestick formation for this is called the Doji. This could be a turning point or a pause in the up trend. The important point here is that it happened at a point of strong resistance. What does all of this mean? The market can not decide if it wants to go up or down. Well if the market can not decide on a day when Uncle Ben Bernanke speaks on Capital Hill I am certainly not going to try to take a guess. Should have taken a long lunch instead.
- JD