Friday, September 18, 2009

Airlines & Casinos Bearish!

When I normally see one bearish engulfing pattern, i keep my eye on it. However, we have Bearish engulfing patterns in ALL Airlines & ALL Casinos. Please see attached pics of MGM and DAL.

The above chart of DAL shows resistance at a prior gap fill along with the bearish engulfing.

MGM shows the bearish engulfing pattern on substantial volume at early May highs.

More to come on this next week. This engulfing pattern will be resolved sooner, than later.

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