With a weak open and strong close in stock market, 70 securities appears on the bullish engulfing scan for the Nasdaq and NYSE. The chart below shows Noble Drilling (NE) surging in early September, correcting into early October and then forming a bullish engulfing on Tuesday.
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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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