Don't Ignore This Chart!

Marriott forms harami at resistance

For the second time in four weeks, Marriott (MAR) formed a bearish harami. The first harami marked a reaction high just below 28. This second harami formed around 27 for a possible lower high. Also notice that the trendline extending down from the October high marks resistance there. You can find a list of bearish harami at the pre-defined stock scans page.

091208mar Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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. Learn More
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