Piercing line: This is a two day pattern. A white day follows a long black day that gaps below the black day’s low and closes within and above the midpoint of the black day’s body. Engulfing: This is a two day pattern. A large white day “engulfs” the previous black day that gaps below the black day’s low and increases to close above its high.
I think the position is long. For short term maybe! By tracking the ratio between bullish and bearish momentum. If it is possible to observe the bullish movement without fundametns, tells us that the market is dominated by bullish sentiment. The stock market is now flat. Everything will be more evident at 12:30 am :)