Digging Its Grave?

The rare doji candle, on the Nasdaq, has been flaring up in June, and Tuesdays candle was one of the bearish of them all with the gravestone doji. Keep in mind this occurred at all time highs as well, and another doji was registered on 6/10. With two in such close succession it is worrisome. To be clear the index brushed off others on 4/20, 5/5 and 5/7, but the recent ones are coming near a possible double top, the very round 10000 number, all time highs, and an upside gap fill. PRICE action will be the ultimate arbiter, and to me I think a WEEKLY CLOSE above the very round 10000 number Friday could be a good sign for the bulls. There has been little follow through to the downside following these dojis, and Thursday recorded a strong intraday reversal of well more than 200 handles. The burden of proof is still on the bears, as the bulls have been in charge. It has been a relentless move to the upside, and maybe Portnoy is onto something when he says stocks never go down. Of course that is a stab at humor, but this tug of war between bulls and bears is an epic one and will go down as one for the ages when all is said and done.

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