Continuation higher — or another trip down…

Post a Comment
AUG 30 2023
After Yesterday’s Banner Day, What’s Next?

Yesterday was a massive 1.6% move up on SPX!! AND We made it up to the resistance box. Now, what happens next?

Can the market muster some continuation higher or are we due for another trip down maybe to a lower low?

Plus, stay tuned as Jeffry spots today’s trade opportunities while he scans markets LIVE.

Click here to watch now!
The Bearish Engulfing Predicted August’s Slump… and One Lesser Known Pattern

If you know anything about me, you know that I’m a fan of patterns. I’m always looking to spot an edge in the markets.

I don’t mean to brag, but what I see in the market tends to come true more often than not. And because of that, some people look at me with a sense of awe, as if I have a crystal ball.

But there are no crystal balls. I don't have insider knowledge or a time-traveling DeLorean either. Instead, my secret weapon is a close observation of patterns.

It might sound boring, but repeating patterns provide a surprising level of predictability and opportunity.

Take, for instance, the bearish engulfing daily candle that hit the SPY near the end of July and set in motion the August downturn.

Let’s talk about that pattern. What exactly is a bearish engulfing candle?

It's a chart pattern where a small bullish candle is followed by a larger bearish one, which 'engulfs' the earlier candle's body, like this:


Basically a red candle that’s “bigger” at both top and bottom than the bullish candle before it.

This pattern often signifies a bearish trend is about to start. And until July’s bearish engulfing, we hadn’t seen one on the SPY daily chart for several months…

So, why does this pattern hold such weight?

Its importance lies in its ability to signal a potential reversal in the market trend. Investors and traders alike use this as a sign to potentially sell their holdings and perhaps even initiate a short position.

But, I’m only scratching the surface here on patterns.

While you keep a close eye on the markets today, I want you to reserve your spot to meet with me at 3pm Eastern

Where I'll be talking about another pattern you’re going to want to hear about.

It’s a pattern that I've played for over a year with a 100% success rate across 54 trades.

Yes, you read that right — fifty four winning trades with ZERO losers since June 2022.

While past performance doesn't guarantee future success, I think you can see that so far the pattern I’ve identified fits the definition of “high probability” to a “T”.

So, if you're curious and want to learn more about this pattern that’s been shockingly accurate for me so far — click here to reserve your spot and join me at 3pm Eastern today!

Hope to see you there,

— Jeffry Turnmire


Related Posts

There is no other posts in this category.

Post a Comment

Subscribe Our Newsletter