Happy April! A little push so far over March's high, so we will see if the bulls can continue to hold on this move. Impressive close last week over the Bearish Engulfing Week High, and the daily close last week over the FOMC candle and post-Opex range.
March Madness is finally over! At least for the stock market! Quite a reversal into last month's red candle. The really important moves were on the weekly with a close over that prior Bearish Engulfing Week, and the daily's gap and hold over the FOMC candle. HAGW!
Well one more day left in the month, and so far this monthly candle is looking like a reversal hammer attempt, so we shall see! The weekly chart is making a run to try to break through the Bearish Engulfing Week, but it only has one more day to try.
The bulls were able to push into last month's range today, and they will want to defend if they are going to help bring in an end to this chop fest. Otherwise, the bears can step right back in underneath those levels.
The chop fest continues as the monthly candlestick is still in Doji formation, dancing around last month's lows, but also in the context of a much bigger triangulation. GDP is coming up this week so that may get things going one way or the other. In the meantime, stay safe out there!
Price still dancing around last month's lows with one more week left here in this month. The weekly Bearish Engulfing Candle is still in force, but we are just seeing so much intraday chop, making it difficult to stay committed either way. We will see if GDP can get things moving this week one way or the other.
Price still in the super chop range overall and dancing around last month's lows, and ultimately being a premium-crusher for options! That said, the bulls had a grindy win into the afternoon, so we will see if they can take that into next week or will it be a bearish rising wedge pattern?
It is the chop dance at last month's lows in the context of a bigger range, bigger chop. The tug-of-war continues and you can see it intraday with the sharp moves in both directions. Let's have some fun on Friday!
Price got back below last month's range today thanks to the JPOW press conference rhetoric. That said, it was not until over a .786 retrace up did the market finally start to turn and it still kept everyone (and their premiums) guessing until the close.
Back into last month's candle and pushing this one green! Is it just a head-fake into the Fed tomorrow, or is there enough to keep the bulls buying and pushing the market higher. Today's gap up is actually suspect, so we will see what JPOW has to say tomorrow!
Price testing the prior month's lows again and also corresponding with the 200-day! That said, inside week and double inside day ahead of FOMC on Wednesday, so we will see if the contraction continues!
Back below last month's lows! Bears were able to do it, in addition to getting back below the 200-day. Weekly Bearish Engulfing candle from last week still in force, and this week left the upper-shadow leaving things suspect heading into FOMC day next Wednesday!
Price is back in last month's range! That was a huge day for the bulls, not to mention over the 200-day! Either way, last week's Bearish Engulfing Candle still remains in force, so we will see how things close on Quad Witching tomorrow!
Price still below last month's lows, and about half-way through the month. That said, the bulls are starting to test higher into last week's Bearish Engulfing Candle, but we will see if it is just more chop until FOMC next week.
A Morning Star Reversal pattern to finish the day as price is testing last week's Bearish Engulfing Candle Range. Still under last month's lows, so the bulls would need to step it up over the 200-day moving average to prove anything of significance. Still some time before FOMC next week!
Some back and forth action today as the market tries to figure out what is happening with the banks. Will stimmie take care of everything or is it going to be like bailing out a big ship with a small pail. Yet to be seen, but last week's Bearish Engulfing week is still in force.
Bearish Engulfing week! Quite the reversal this week as price finally closed outside the post-Opex range, and it closed bearishly! Nice outside day yesterday too, leading to more selling below yesterday's lows. We had fun though! Now we will see if March turns out like September!
The bears stepped up and took the Doji sandwich down on the daily to get under the 200-day, and more importantly, under last month's lows. Things are starting to shape up like September, so if that happens, the bears will certainly be happy!