Thursday Market Wrap- A Glimmer of Hope and Dojis

It was another ugly opening for the market until we bottomed for the day around lunchtime. The SPX then proceeded to rally about 20 handles off those lows. Below is a 5 minute chart for today.


What gives me cause for “moderate” bullishness is that technically speaking the SPX put in a bullish doji today.  A doji is a candle that looks like the one circled in the chart below. They usually happen at the end of a move and can signal a change in direction.  They also happen at “tops’ of moves. It will be interesting to see where this leads tomorrow.

spx daily

Nasdaq printed one too.


DOW 30 gave us one too

dow jone sdaily

See you in the morning. The bulls may not be far away.


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