But many more are watching that tantalizing march upward by the daily 50-ma (cyan) as it nears the 200ma (magenta)
Since the 200ma is almost horizontal and moving much more slowly it is the 50ma that is making the more pronounced move up.
I am leaning towards the theory that the markets will decline by more than 5% ONLY when the 50maa crosses or kisses the 200ma..... yep, that's why it is merely a theory and not based on even a grain of serious intellectual analysis.
That's about the most bearish daily candle in two weeks, somewhat like the classic bearish SPINNING TOP pattern
But, I don't bother with names of candlesticks since I am more interested in what the candle really means or signify rather than its name, Price Action, the range of the bar, the high, the low, the close, where are these located relative to each other and the previous candle etc. Every candle in daytrading is analyzed in that way...
This factoid:
$SPX hits 2850 for the first time since Oct 10, 2018. This round, arbitrary number holds no significance whatsoever, no matter what your constellation charts tell you.
Edited by dTraderB, 19 March 2019 - 04:57 PM.
