05/14/2021 Market Recap
Posted: Fri May 14, 2021 5:06 pm
Strong follow through so bears are half dead, let's see whether bulls can make an all time high the coming Monday which if indeed then bears are really dead. A narrow range bar on Monday might give bears some hopes.
Why better an all time new high coming Monday? Because usually a rebound from a bottom uses less bars to recover all the previous losses. In our case, it was 3 bears bars down, so better bulls take 2 bars to recover all the losses, obviously bulls didn't make it today but if Monday bulls can make a new all time high then 3 bear bars vs 3 bull bars, bulls advance more then still bulls are stronger.
Why better an all time new high coming Monday? Because usually a rebound from a bottom uses less bars to recover all the previous losses. In our case, it was 3 bears bars down, so better bulls take 2 bars to recover all the losses, obviously bulls didn't make it today but if Monday bulls can make a new all time high then 3 bear bars vs 3 bull bars, bulls advance more then still bulls are stronger.