FCX

The first week of 2011 saw profit-taking in FCX, resulting in a Dark Cloud Cover candle pattern, looking for confirmation in the week ahead.

Should weakness persist through the month of January we would also be looking at a Dark Cloud Cover candle pattern on the monthly chart, corresponding with a double top (horizontal line indicates the 50% mark where I would suspect some support).

Price has been initially supported at the 20-period MA on the Daily chart, which also happens to be showing a small bear flag, but the 50-period MA could be solid support which would equate to a 61.8% retracement of the December monthly candle and a solid price support level

really??

IWM weekly showing an Inverse Head & Shoulders pattern with a measured move to infinity and beyond.  Can't be, can it!?

well that didn't work

Updated from HERE regarding the Falling Three method candle pattern on the AKAM weekly.
Was looking for weakness, but AKAM just kept getting stronger until it broke out of a really nice base.

Dark Cloud Cover

textbook Dark Cloud Cover in NFLX

AKAM Falling Three

The Bearish Falling Three Methods has been seen before on this weekly chart:Previously, after forming the pattern, price retraced 62% before the continuation move followed:It would make sense in this case for price to attempt a test of the earnings miss clear air

Piercing Line

DIA & IWM printed a slight lower low (versus the "flash crash" tail), but still held above our previous February pivot. The SPY gave us a higher low and a nice Piercing line pattern with a strong rally into the close, setting up an inevitable bounce going into next week.