Market – Yellow Flashing Light

April 8, 2024
Author: Peter Stolcers, Founder of OneOption

The long red engulfing candle from last week tells us to proceed with caution.

PRE-OPEN MARKET COMMENTS MONDAY - Last week the market was testing the all-time high and a gap up resulted in a very long red bearish engulfing candle. These gap reversals off of a new high are a warning sign. This one was particularly long and it came on heavy volume. That makes it more legitimate.

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