It was an amazing day in the market if you are a bear. Not because the decline was anything to write home about, but because the latest daily trend was broken.
The trend – open lower, close higher.
Today’s price action - open higher, close lower.
Of course, we will need some bearish confirmation over the next several trading days, but I think with the current amount of lopsided bearish indicators in the market the probability of a continued mover is high.
Almost every indicator I follow is now in a bearish state and there are more notable bearish stats from sentiment analyst Jason Goepfert to add to the list