S&P Hanging man

SP:SPX   S&P 500 Index
Typycal candlestick formation after a decline, yet if it is inside bundaries is not clear. Maybe it is testing resistence, who knows, only the future will tell.
$SPX $Hangingman
Usually hangingman come while uptrend, looks like it may be more of a reversal but just my opinion
@stinkbug, It was confirmed by a gap up on the very next day.
Hanging man usually comes from both up or downtrends (I call them the same). Anyway what is important is that this is (can be) a reversal pattern, as you mentioned, but only if confirmed from subsequent price actions. In this case it showed bulls are still in control. They showed great strenght recovering from a possbile very bad close, keeping the price inside accumulation boundaries

p.s. Thank you for your contribution.
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