Thursday, May 18, 2017 2:10:22 AM
déjà vu
$SPX chart below. Maybe the sky isn’t falling.
Alongside the last two days’ red candles is a dashed green line which is almost equal to the total high-to-low range of those two candles. That dashed line is an exact copy of a dashed green line placed three weeks into March. Déjà vu.
The day before each of those large drops is a largish green candle with small shadows, and one day before them is a bullish hammer doji with a red body. One or two days ahead of those is a largish doji.
During the low in March (after the large drop) there is a doji with very long legs. (No, she’s not standing under a street light at night.) After another significant drop in April that took several days to evolve there is another long-legged doji. After several days of price decline, long legged dojis or bullish hammers commonly indicate that a bottom is near.
The quickest area for a bottom may be the bottom dashed support line where it intercepts the middle tine of the orange fork. The next area would be the bottom of the horizontal channel shown just below 2,330.
$SPX chart below. Maybe the sky isn’t falling.
Alongside the last two days’ red candles is a dashed green line which is almost equal to the total high-to-low range of those two candles. That dashed line is an exact copy of a dashed green line placed three weeks into March. Déjà vu.
The day before each of those large drops is a largish green candle with small shadows, and one day before them is a bullish hammer doji with a red body. One or two days ahead of those is a largish doji.
During the low in March (after the large drop) there is a doji with very long legs. (No, she’s not standing under a street light at night.) After another significant drop in April that took several days to evolve there is another long-legged doji. After several days of price decline, long legged dojis or bullish hammers commonly indicate that a bottom is near.
The quickest area for a bottom may be the bottom dashed support line where it intercepts the middle tine of the orange fork. The next area would be the bottom of the horizontal channel shown just below 2,330.
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