gb50k

SPY missing wick: Rally a monthly wick

INDEX:SPX   S&P 500 Index
332 4 7
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)

Related Ideas

ChimbOt PRO
11 months ago
I dont understand the point of this post?.
Are you telling god to create a wick, based on wicks in the past?
Reply
spx wave c of 4 praimry on the way to 1800 ?
Reply
modigliani10
11 months ago
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
11 months ago
agreed, up this week then smack.
Reply
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