Not much going on here. You can see price opened gapped up last night at 8pm ET, the eventually started filling the gap but didn't finish. Then came back down and closed on the trend line. I circled today's action on the chart.
It formed an inverted hammer candle in slightly over sold conditions (stochastics), which also qualifies as a Bullish Harami candle pattern, but its under the 8ema, so its not to be taken seriously, at least not until price closes over the 8ema.
Using a Sell Stop Limit order last night kept us out of this trade. So if it starts heading up and looking bullish we won't lose any money. I left the order on and we'll see what happens next.
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