Advanced Micro Devices Inc (AMD)

[JLS]

The day is done. ***

But there is no guarantee the downtrend is done though it looks like it is. That'll have to wait for confirmation tomorrow.

The large green candle that $SPX made today doesn't mean much to me. Today's green body engulfed yesterday's green body, and that by itself means a lot, but those two bodies are engulfed by the previous day's huge red body. The name for that pattern is "Bullish Squeeze Alert" and requires confirmation as it is quite rare. If you believe that, you are supposed to wait till confirmation tomorrow before making the trade.

A better signal (my opinion) would have been if all the major indices made a doji today as that signals, with very high probability, that the bottom is in, and an uptrend is about to commence at nearby prices (higher or a little lower). For a good part of the day, that was the case. So one could guess that a large number of market participants pondered the intraday doji and decided the downtrend is over before the day was over and that inflated $SPX into a large green body as everybody rushed in to buy. I just made that up, but it sounds pretty good.

***
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