US30 The long bearish drop was from the Double and Triple Inside Day patterns that signaled more than one BIG move today.
And, the lower wick of this Hammer needs filling, so we'll see if we get a partial or full fill, then head up because the Hammer rejected the Swing Low of 46,607.
Also, with a bullish retrace, watch to see if the bulls can head for the S&R Zone. If they breach the Swing High of 46,956 and cross above the Resistance Zone, then the market bias would flip from bearish to bullish.
*Side Note: The bullish pressure showed itself in several ways, which made me cautious to trade this going down. It was seen in the previous two Spinning Tops and now the very long lower wick of the Hammer.
US30 On the Hourly, it's questionable if the previous candle is a Bullish Spinning Top. If it is, then as a bottom reversal candle, it will encourage a move to the upside - potentially towards 46,886 - the current mean reversion price and may go higher towards the S&R Zone (starting at 46,909) or more. But if it's not the bottom of the descent, then that previous candle is not a Bullish Spinning Top for the bears to continue back down.
US30 Be Careful! The Daily is currently showing a tall Inside Day, which means a market pause with no clear direction.
On the Hourly, after the break of the Bearish Trendline (in red dotted line), the bulls are attempting to counter the bearish drop.
Typically, there will be a retracement to retest the trendline, so we'll see if the bulls will to that, then head back down again in a greater way because the Hourly is still in Bearish Market Bias. Let's see if that happens.
US30 On the Hourly, it is in Bearish (directional) Market Bias. The candles have been going into tight consolidation for over 16-hours since the start of yesterday's After Hours. They formed a S&R Zone, hugging it tightly and using as Support.
A Double Bottom formed earlier.
There's no breakout yet from the S&R Zone. And, a kind of "ledge" can be drawn like a straight line (shown as an orange line) along a Triple Inside Day pattern, along with other elements that suggests a parabolic move is coming.
Let's see if we get the 2nd peak of the giant M-shaped pattern, then a major drop down for the 4th and last leg of the "M" that is typically a long bearish trend.
US30 Surfers, Unite! We've got lots of tight "coiling" from the higher timeframes: the 4-Hour is showing a Double Inside Day and the Hourly has both a Triple and Double Inside Days that are back-to-back.
Something very BIG coming this way, either to the upside or the downside within this session.
US30 Price is showing a clear consolidation phase, likely setting up for a liquidity grab above recent highs before a potential distribution and sell-off. Watching for a fake breakout near 47,000 to trap longs, followed by a move toward 46,500 - 46,600 if the structure breaks down. Bias: Bearish on the day unless 47,100 breaks cleanly.
US30 We've got a Bullish Pressure Zone on the Hourly. You can see on the chart below of the three lower wicks in succession that created it. 
