Charting the S&P 500: As Doji Candle Prints, Will Markets 'Follow the Script'?
Stocks had their first down week in a month, but there was something in it for everyone.
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Last week was a wild one with plenty of volatility as the market indexes fell for the first time since August. It was a modest move down, but the large moves intra-week might have the bulls nervously sitting on the edge of their chairs.
The S&P 500 printed a doji candle this past week, an indication of indecision. What does that mean exactly? Well, simply put, the bulls could not advance the ball forward, while the bears could not break resistance.
The indicators were not changed, but for a doji week, volume was lower than prior weeks, and about average for the last 50 weeks.
Money flow and MACD (moving average convergence/divergence) continue to lead the stock market higher, and as we move into a new month and quarter this week we should remember stocks tend to do very well during the last three months of the year IF the markets are higher in the first nine months, which is the case in 2025.
We'll see if the last quarter follows the script.
