Bearish Engulfing

With a strong open and sharp decline during the day, the Nasdaq 100 ETF (QQQ) has a bearish engulfing pattern working on Tuesday. In fact, the intraday scan for bearish engulfing patterns is quite full (165) an hour before the close. The bearish engulfing for QQQ confirms resistance and could foreshadow a short-term pullback. 


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http://blogs.stockcharts.com/dont_ignore_this_chart/2012/08/qqq-forms-bearish-engulfing-at-resistance.html