Eye Spy a Bearish Engulfing Candle

Where broad stocks are concerned, I am strategically long. Not short (yet, anyway). So this is not the product of someone wishing and hoping. I want this market shoved so far up Trump’s ass it’s not funny. But that is my emotional brain. My technical brain has seen and managed the trends.

However, yesterday did paint bearish engulfing candles on SPX/SPY. What’s more, there is a condition (reserved for NFTRH) on the weekly charts of SPX and NDX that had not happened through the entire post-crash rally until last week. And no, it does not appear to be a positive.

Anyway, here’s yesterday’s engulfing candle, the efficacy of which is not yet neutralized by today’s rally.

spx

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