gb50k

SPY missing wick: Rally a monthly wick

SP:SPX   S&P 500 Index
A 'bottom wick' can be formed on the monthly chart by having an all green/up week. When combined with the red candle at the monthly level - Creates the dynamic of a 'bottom' where the bears push price down to a limit and the bulls succeed in fighting back and bring price back up - and the bottom is formed.

Looking at the weekly chart for SPX             or SPY             their are relatively fewer examples of bottoms like this (also known as tweezers)
I do believe that this is actually the most likely scenario for this week....but it will be only temporary event...the market will eventualy crash
+1 Reply
Birgitbonander modigliani10
agreed, up this week then smack.
Reply
I dont understand the point of this post?.
Are you telling god to create a wick, based on wicks in the past?
Reply
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