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I needed to wait for the end of the week to show this pattern. Two weeks ago the 500 index created a Doji star pattern that often takes place at tops, just ask Apple shareholders about these, as one took place the week of Apple’s all-time high and last week too! (see Apple Doji here)
The Doji in the S&P 500 took place at the top of a steep rising channel and this week an engulfing bearish pattern is taking place.
Be careful, this pattern has burned a few investors in the past!!!