High Probable Down Day Tomorrow

Typically a white candle (where the market gaps down and closes above the open) is one of my favorite bullish candles. A black candle is just the opposite. Nothing is for sure in the market, we know this, however typically a black candle is a topping candle, especially if it has a shooting star formation. Although the SPX looks nothing like this, the NASDAQ is showing relative underperformance with a black shooting star. A black candle occurs when the market gaps up but ends up closing below the open. So far in the P2 rally every single day we've had a black candle we've seen a pullback within a few days, more likely than not starting the very next day. If you look back during June's pullback it looks very similar and you can also see how the index pulled back a good 3-4% afterward. I've highlighted the chart below in yellow for you to see. Also note the XLF, the financial sector ETF, has a similar candle. Tomorrow is also the last day to save the old highs. A bullish day and I'm sure we'll see 1098-1120 before 1000 breaks.