Eesh, today's bearish candlesticks are a problem

I don't like seeing 'black' candlesticks as they reflect a failure of opening strength, and today was one of those days.  'Black' candlesticks are more of a problem at the end of the rally than at the start, but if we see a gap down tomorrow there won't be much support to lean on. 

The S&P and Nasdaq might yet see another test of the 200-day MA tomorrow. However, if there is a close above today's high, the bearishness of the 'black' candlesticks is negated.




Today's candlestick for the Russell 2000 ($IWM) finished right on support. It's not great, but there is at least a support level to work with.  Technicals haven't changed.


So, markets started positively with a gap higher, buy by the close-of-business, there was no building on opening strength. 

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Investments are held in a pension fund on a buy-and-hold strategy.

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