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Three White Soldiers
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| FYI - For 2011, Dow up, Dogs of the Dow up more (double digits) |
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 In technical analysis, three white soldiers is a candlestick charting pattern -- it is a bullish reversal pattern. The three white soldiers is characterized by three long-bodied candles that occur on consecutive trading days. With a three white soldiers pattern, each day's opening price occurs within the body of the previous day's candle and each day's closing price occurs at or near that day's high. Some market technicians believe an optimal three white soldiers pattern will have the second and third "soldiers" opening in the top half of the preceding day's "soldier." However, the three white soldiers pattern is theoretically valid if the 2nd and 3rd day opening prices occur anywhere within the body of the previous candle. Technical analysts consider the three white soldiers a very bullish indicator when they appear after a long decline or after a long decline and subsequent period of consolidation. Three white soldiers appearing after a long advance is regarded more cautiously because it could signal a security is near its top and is about to reverse. The three white soldiers pattern does not appear frequently.
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