The weekly candles of some major market players were just terrible (for the bulls). After the very bearish daily closure on September 9, the weekly closure on September 10 just added insult to injury. Let’s have a look at candlespeak.
The chart above – weekly candles.
The Gravestone doji of previous week at work. This week confirms and MSFT looks down.
Confirmed the Spinning Top of the previous week. Expect the correction to continue.
Probably the worst. Bearish Engulfing that was formed in the last hour. Very telling. More than 80% probability of a multi-week decline.
In a free fall. Multiple bearish candle formations. Probably already in wave 3/C.
A Gravestone doji. The name tells for itself. Expect a strong decline.
A Spinning Top within a range of previous Spinning Top. Strong bearish odds, a decline is highly likely.
Multiple bearish formations. Possible Falling 3 Methods next week. Bearish odds.
Until the last minutes of trading, Visa was on track to form a rather strong reversal combo. But…
Most likely – a bearish continuation combo.
The sample is very-very bearish. The bearish daily closure on Thursday led to bearish weekly closure on Friday. Let’s see where would it end on September 30.
The indices echo the sentiment.
The next week is expected red, possibly with a gap down.