Today a Black Opening Marubozu was formed. This shows that the day opened and prices continuously went down but they did not close at the low of the day and thus they created a lower shadow.

The Black Opening Marubozu is a single candlestick pattern characterized by its long black body, displaying a shadow on the closing side but no shadow on the opening side. This shows that the day opened and prices continuously went down but they did not close at the low of the day and thus they created a lower shadow. It is a day for bears and such a bearish rally should cause concern among the bulls.