BY LICIA LESLIE
January 10, 2024
Hi Shoppers,
After the massive rally we had on Monday, Tuesday brought us an inside day.
What does that mean?
Well, according to the Japanese Candlestick system, yesterday’s inside day could possibly be a harami candle.
Harami means pregnant in Japanese.
The candle combined with the previous day’s large real body looks like a pregnant woman.
Here it is in SPDR S&P 500 ETF (Ticker: SPY):
The harami candle tells us not so fast with that rally.
We may not be going higher.
It negates the direction of the previous day’s large body candle, in this case higher.
My support and resistance levels are the highs and lows of the most recent consolidation of SPY, $467.50 and $477.40.
Today will be interesting.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain
The harami candle tells us not so fast with that rally.
We may not be going higher.
It negates the direction of the previous day’s large body candle, in this case higher.
My support and resistance levels are the highs and lows of the most recent consolidation of SPY, $467.50 and $477.40.
Today will be interesting.
Thanks for Reading … See You Next Tuesday,