By: Tom Gentile
on April 6th, 2022
4-Day Winning Streak on the Dow Broken Today
When you look at a candlestick chart you are not going to see a huge bearish candle and if you look at an OHLC (Open, High, Low, Close) chart today’s bar may look more like a doji-type day.
One-day does not make a trend, so we watch for the upcoming days to say if this is just a pause in the rally or there is more to it.
You’ve probably heard from some on the financial news networks this is a bear market rally, or this rally will not last, but we’ve been hearing that back when DIA (ETF that tracks the Dow-30 Index) was trading up against the 50-day SMA. It wouldn’t hurt to pause or pull back, so I am good either way.