TheStrategyLab.com key charts and their stories for active traders of AMEX Oil Service HOLDRs OIH

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Posted: March 6th Tuesday @ 8:21pm est 2007

Key Market Day

Key Market Day does not imply that the particular trading instrument discussed below will continue in the direction of the pattern signal.

It implies that the pattern signal occurred on a trading day that had impact into the direction of the pattern signal via either a key economic report, key regular schedule market event, key geopolitical event, market seasonal tendency (cycle) or the price action of another key market.

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At first glance about this pattern signal is that it is a Bullish Harami pattern. However, Japanese Candlestick pattern recognition is not a key component of the Swing Trading Report (STR).

AMEX Oil Service HOLDRs OIH price action of this pattern signal is dependent upon volatility analysis, support/resistance zones, intermarket analysis and a key price action that's only discussed with fee-based clients.

With that said, this particular client like the trade in that the white line (the confirmation interval) fought back upwards after the Dark WRB threaten to close the gap from the prior trading day had sellers and institutional involvement occurred...it didn't.

In addition, the price interaction between the Dark WRB interval and the White Confirmation interval is the shift in supply/demand as explained in the trading report.

Trading Instrument: AMEX Oil Service HOLDRs OIH (exchange traded fund)

Price Action Pattern source: Swing Trading Report (STR)

Click on chart to view actual size

If you have any questions about either the key hints mentioned above about the price action or the pattern signal itself...

You can send an email to questions@thestrategylab.com

Also, to view the archives of what we consider to be key market days along with the clues associated with the key price action...click here.

Disclaimer: The above chart in the key chart stories is for illustration only and they represent trades (real money or simulator) of those traders that have access to either our profitable free strategy, trading reports or trading manual.