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Bearish Candlestick Patterns Form as Stocks Become Overbought

The index funds SPY, QQQ and IWM along with the DIA are overbought and are ripe for a pull back. Bearish reversal candlestick patterns like the dark cloud cover and bearish engulfing formed in the SPY and QQQ.
If there is follow through to the downside, then that will confirm the bearish reversal.
Put options become very low priced when the stocks become overbought. If the market turns down the put options will become more valuable.
The bear inverse funds will also be profitable if the stocks reverse off the highs and move lower.
Bearish Candlestick Patterns Form as Stocks Become Overbought

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