weekly chart of the week, page-3

I expect it will be a long slow climb out Pedro. The point is in a week when stocks generally are at risk of a big tumble, this one is not. Its already had its big tumble. The weekly harami pattern marks it out as different to cnp afg etc in their initial tanking phases. Essentially the harami on the end of a long black candle is evidence that a large buyer is buying the shares at a set price in prep for a takeover.

I have the view that financials will turn here before the rest of the market, and resources will come off for some months. Hence this is the pick of the financials, the stop loss is easy and the value is compelling.