Below is a list of names for those charts we believe are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week.
Bullish reversals imply institutional accumulation and the potential for higher prices. Bearish reversals imply institutional distribution and the potential for lower prices.
Each group is listed by sector affiliation. Please feel free to contact the author for further details.
Bullish Reversals:
Consumer Cyclicals: The Michaels Companies (MIK) , Signet Jewelers (SIG)
Clearly, Wednesday was a day of broad portfolio distribution. Not, however, the end of the world.
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