📊 That upper wick has already said everything.

Candlesticks never waste words.
That upper wick on US stocks yesterday quietly hung there on the chart, saving all analysts from writing a report～
It surged up, but couldn't hold on.
These four characters are the market's complete answer.
No matter how exciting the news is, no matter how high emotions run, the price ultimately falls back—the essence of an upper wick is: someone is waiting for you at higher prices, and they've been waiting for a long time.
Temporary news stimulus can push the price up, but can't budge those sell orders that were already placed long ago.
The logic of the bigger direction has never changed:
US Treasury yields running at high levels, rate hike expectations reignited, East Asian risks rising, clouds over the Strait of Hormuz not dispersed, global recession probability hitting new highs……
These things won't collectively pretend not to exist because of a piece of good news.
The market occasionally gets carried away by emotions, but the candlestick will pull it back.
The upper wick is that rope～
News is fireworks, candlesticks are signposts—no matter how beautiful the fireworks, after watching you still need to find your way home～
The direction is already drawn, what remains is just a matter of time～