SPDR S&P 500 ETF TRUSTEducation
SPY daily - inverted hammer candle - pay attention to it!
This may be a great bullish buying signal, and supporting the SPY monthly chart (linked). A trade below 3/16 low negates bullish bias, while a reversal open or trade over candle body indicates more upside. Please learn more about the meaning and use of inverted hammer candles here:
https://hitandruncandlesticks.com/inverted-hammer-candlestick-pattern/
Also note that %K rose from 23 to 29 while price made lower highs on March 10 & 13 (two green candles last week). This is bullish divergence. %D stochastic will turn up when a bounce begins. Today's volume was lower than Friday's volume.
https://hitandruncandlesticks.com/inverted-hammer-candlestick-pattern/
Also note that %K rose from 23 to 29 while price made lower highs on March 10 & 13 (two green candles last week). This is bullish divergence. %D stochastic will turn up when a bounce begins. Today's volume was lower than Friday's volume.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.