The doji is a known indecision candle. When you see a big doji on a big chart it's (Usually) telling you the market is setting up to make a large decision on direction.
Doji candle very strongly implies the market has found a level where it's going to make a really important decision. It goes big one way, big the other way and settles in the middle. Indecision.
Don't get many of these in SPX and you have to look a long way back to find one with such big wicks.
Long-standing theory is market crashes start upon failure of 161 fibs. I've found it to be the most recurring topping indicator in 150 yrs of crashes.
Doji candle very strongly implies the market has found a level where it's going to make a really important decision. It goes big one way, big the other way and settles in the middle. Indecision.
Don't get many of these in SPX and you have to look a long way back to find one with such big wicks.
Long-standing theory is market crashes start upon failure of 161 fibs. I've found it to be the most recurring topping indicator in 150 yrs of crashes.
