S&P 500 Days of Long Shadows
- First chart shows the daily candles for the last 8 trading days most of them gave good intraday movements but on closing basis there is very little movement resulting Mostly in doji candles with long upper or lower shadows. This kind of consolidation mostly results in big breakout towards one side.
- 2nd chart shows the 4 hour chart with 50 moving average that has given support for the index. When SPX traded at 1177 according to the previous price action it was an easy long to take.
- S&P 500 INTRADAY POST
HI
ReplyDeleteI M KESHAV REGULAR READER YOUR BLOG.
ALWAYS U UPDATE IMPORTED STUDY.
ON THIS POST S&P 500 "LONG SHADOWS".
IT'S VERY BEARISH PATTEN ON CHART.
FROM LONG TIME S&P 500 TAKE WMA26 SUPPORT N GO UP.
WHAT'S YOUR VIEW NOW ??
BLUISH BREAKOUT ABOVE "LONG SHADOWS" CLOSE N FIRE ??