DOW Possible positive Piercing Pattern

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Dow Jones Industrial genomsnittsindex (DJ:DJI)

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DJ:DJI Dow Jones Industrial genomsnittsindex

Possible positive Piercing Pattern Need to wait until close and check out my other indicators...but going strictly with sticks here this could be the end of this mini correction. Actually, the use of the word mini may not be necessary...because we were close to being down 10%...which, by definition, is a correction.

Another thing to look at is the MACD is oversold...this is obviously positive.

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Maybe try to buy calls near intra day lows

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So it did end up being a piercing Pattern (on steroids.) I did not act because of 2 reasons: The VIX was way to high and the retracement was too large. A BUY after tomorrow's open is just chasing I think because of this big recovery. I might look for some weakness before buying OEX Calls.

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Bought OEX calls right at open on weakness. Got a great price.

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Sold for a quick $2900 profit.

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