After plunging on Monday, the Regional Bank SPDR (KRE) firmed on Tuesday to form a harami. This is essentially an inside day. Also notice that the ETF managed to firm near the 62% retracement mark. Wednesday's surged above Monday's high confirms the harami.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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