This week the major US indices closed in unison. The painted so bearish candle formations so in this little study of candlespeak I decided to touch the possible monthly candles as well. Let’s explore the details.
The upper row – weekly candles, the bottom row – current monthly. All daily candles are so bearish, that there is no points of showing them.
Is probably the most bearish at this point. The weekly candle confirmed the Dark Cloud Cover of previous week and the bearish formation 3 weeks ago. Very strong bearish odds.
The developing monthly candle is already a full Engulfing. Let’s just hope it recovers by the end of month.
The weekly is an engulfing of a Spinning Top. Strong bearish odds.
The monthly is not decided yet. It was a bearish Engulfing in July, followed by a reversal attempt in August. In September it could flip either way. We have to wait until September 30 for an answer.
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