.SPX: Bet a 3-4 Weeks' of Consilidation Period is Needed
Hello everyone! Today i want to share some technical analysis with you!
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Long-legged Doji Candle: $S&P 500(.SPX)$$Invesco QQQ(QQQ)$
(1) after a record-setting 12 Green Daily Candles in a row, QQQ, along with its peers, SPX, DJI, etc. set up a Long-legged Doji candle on Thursday.
(2) it shows in-decision or a turning point of a strong trend. Need a mid-sized red candle tmrw to confirm
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Wow, while SPX & other indexes jumped over 5% last 5 sessions, AAII bearish sentiment remains the same, 10% higher than the bullish side.
This indicator alone is NOT a good sign that the market is anywhere near the top. I would bet a 3-4 weeks' of consilidation period is needed
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