Commentary

12/9/20 – Late Afternoon Signals

The afternoon weakness worsens the outlook a bit. The market today is positive CO but was weak enough OC to produce a daily loss which makes x2. x2 plays negative CO next day but is not bad OC.

The blue horizontal lines are at the bottom of various unfilled gaps. Those are threatened, with the most recent one at 363 looking not so remote anymore. The 18 day SMA is exactly at that spot today. The engulfing candle may look more ominous than it is though.

At the bottom of Mt Lameduck there are other gaps, that might be considered unfinished business.

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