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Chartology – What Does Stock Reversal Mean?

With stocks reversing course midday, chatter of a larger market correction began to surface again. Of course that chatter has been going on for weeks now.

The question becomes, was the market action on Friday simply profit taking after a 5-day rally -- or was it the beginning of a bigger pullback?

Seems like a good time to consult the charts with technical analyst Greg Troccoli. Find out what patterns suggest. Watch the video now!





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Trader disclosure: On Sept. 11th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Is Long Apple (AAPL): Najarian Is Long Bank of America Stock, Short Calls: Najarian Is Long Citigroup Calls: Najarian Is Long Discovery Financials Calls: Najarian Is Long (ENER):Najarian Is Long (FCX), Short Calls:Najarian Is Long (JPM) Stock, And Puts; Najarian Is Long (JOYG) Stock, Short Calls; Najarian Is Long (MS) Stock, Short Calls; Najarian Is Long (MSFT) Stock, Short Calls; Najarian Is Long (PALM) Calls; Najarian Is Long (RIMM) Calls; Najarian Is Long (TEVA) Stock; Najarian Is Long (V) Stock, Short Puts & Calls; Najarian Is Long (WFC) Long Puts, Short Stock; Najarian Is Long (YHOO) Calls; Terranova Is Short (CCL); Terranova Is Long Gold Futures; Seymour Owns (AA); Seymour Owns (AAPL); Seymour Owns (BAC); Seymour Owns (BX); Seymour Owns (F); Seymour Owns (RIMM); Seymour Owns (SBUX)

For Scott Nations:
Nations is long call verticle spread on (LVS)

For Mark Schoenebaum
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For Brad Hintz
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