Friday's gain Looks to Negate Thursday's Bearish Candlesticks
Thursday had left bearish candlestick across the indices but Friday's gain was an attempt at least to eat into this supply. Buyers weren't able to completely negate the bearish implications of these candlesticks, but it was a good finish for bulls. The S&P has probably the best of it as it edged a close just above its 50-day MA, as On-Balance-Volume ticked back in favor of bulls. The higher close has done enough to close the breakdown gap from April and has stalled the reversal, but the swing high hasn't been challenged.