If you follow this kind of stuff...i see a doji on the SPY daily and weekly charts.. ....crawls back into his cave....
http://www.fxwords.com/b/bearish-doji-star-candlestick.html not per my interpretaion. a doji is pretty important in candlestick charting.
in japanense candlestick charting...a doji most often signifies a reversal, the signal is stonger if the market is oversold or overbought. Not my interpretation, that is the textbook definition.
a doji is a neutral signal. A shooting star (gravestone doji) is more of a reversal signal by itself. Although in these markets plenty of candestick formations have been violated. I see plenty of bearish haramis (huge down red candlesticks) go right up the next day and soar.
I am not into candles but doesn't a doji need confirmation to be bearish? I don't think you are going to get that as this market looks like it will likley rally in to the close today and hit a new high Monday.
isn't doji based on closing tick? lately the market's been reversed after dip; but no one knows! ...today is option exp-day and sometimes there is a follow throuhg on next Monday.
I use candles alot, and always wait for the close of candle. You might think that it is forming a pattern, act on it, and then when it closes you realize that the candle changed. Also, i havent looked, but i would want to see this by some sort of resistance. Everyone has there own technicals that they like to use. Dont just sell because you see a doji. If you sell just because of the doji and it fails, dont come back and say "candles dont work, blah blah blah." There a tool to be used in conjunction with other methods. Candle patterns are not system.