Since the crash of February and March 2020 the S&P has been on an absolute tear. The recovery of the market was swift and has seen some strong prosperity for some time.
Monthly candles are pretty telling of what has happened. This second to last monthly candle is known as an inverted hammer, a typically bearish candle if seen at the end of a strong rally.
For many technical analysts this would be considered a warning sign, a possibility that the trend is changing or a pull back is to be seen.
Be alert and stay nimble, for potential changes to our market are on their way.
Monthly candles are pretty telling of what has happened. This second to last monthly candle is known as an inverted hammer, a typically bearish candle if seen at the end of a strong rally.
For many technical analysts this would be considered a warning sign, a possibility that the trend is changing or a pull back is to be seen.
Be alert and stay nimble, for potential changes to our market are on their way.