With a short-term reversal in stocks over the last three days, the
evening star scan was about as full as it's been in a long time. IBM formed an
evening star with a long white candlestick on Wednesday, a gap-stall on Thursday and a gap-decline on Friday. Volume also expanded on the decline.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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