Gap down but now follow through

Today's market looked promising for the bears. Why did the bulls put up such as fight around the big phat round number of ES 2900? For the most part, it's a psychological number. Technical analysts understand that buyers will show up below 2900 and the bears will try and keep the market below 2900. It was a battle and they were able to close above. Is that significant? We'll find out, but it's one day, and until and unless they can begin getting above and closing above certain important numbers, no dice. We look at markets from a technical perspective, using charts, chart patterns, candlesticks and not a lot more. We keep the charts simple which is easy to understand for traders of all skill level, from beginning traders to the most experienced. We can all learn something. Hosted on Acast. See acast.com/privacy for more information.