Evening doji star -- the same as an evening star except the middle candlestick (i.e., the star portion) is a doji instead of a small real body. Because there is a doji in this pattern, Marketclub considers this pattern to be more bearish than the regular evening star.
The market action for Apple on Tuesday created an Evening Doji Star. What this means is that Apple has put in a top.
Coming as it does from the 38% Fibonacci retracement level (see my earlier video on Apple) it would appear that we are going to see more two way action in this market.
We view the major trend as positive for Apple and would like to see how far we pullback from the Evening Doji Star before adding more capital to this market.
Adam Hewison
President, INO.com
Co-creator of MarketClub.com
Russell:
Just to add further rich tapestry, I noticed we've got an 'Apple' and an 'Eve' which MUST portend the genesis of something ...
In any case, I hope this turns out to be a good 'pick' for you.
Doug
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