Bullish Engulfing Pattern?

Bull or Bear?

Comments

  1. I never give guaranties, but I will make this one exception with a bold prediction. The market (YM/NQ/ES) will either move higher, lower, or sideways. I'm personally invested in the market moving higher.

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  2. I'd take this with a pinch of salt, or in other words, i'd put this into the "Bullish engulfing...ish" type of a pattern. But id give it some weight to the upside considering the previously strong bullish eng.

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  3. Hey John,

    I will have to add ...ish into my analysis lol, the truth is, I take all of my own analysis with a "pinch of salt". I try to prevent myself from getting emotionally attached to any one position or general idea of market direction. Makes it easier to change my mind when needed. Thanks for commenting.

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    Replies
    1. I just realized that this was a rather old piece at the time of commenting. So for the sake of curiosity I did peak into the SPY chart.. the "ish" did turn out be bullish indeed!!

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