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07/16/2021 Market Recap

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Cobra
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07/16/2021 Market Recap

Post by Cobra »

We had 4 consecutive bear bars (as long as open > close, it's a bear bar, doesn't have to be a down bar) so the volume surge today could be seen as an exhaustion therefore a rebound is due. It's also reasonable to read it as the volume surged on the 2nd down day therefore was bearish (People rushed to sell). My bias is a little bit down as the recent rally was mainly due to a few heavy weighted stocks which was not healthy so a pullback looks reasonable to me.
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Cobra
Site Admin
Posts: 58335
Joined: Sat Feb 12, 2011 10:29 pm

Re: 07/16/2021 Market Recap

Post by Cobra »

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Didn't expect the breakdown could go all the way down till the close. It was a downtrend day, just the breakdown was way late than usual.
viewtopic.php?f=2&t=4693&p=296098#p296098

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