They're possible reversal candles...but they must be confirmed.
In other words, tomorrow or soon after SPY would need to close
below the close of the hanging man candle, preferably below the low
of it, to confirm a short-term reversal. Same for SDS, just
opposite direction.
I'm sorry I'm not having any luck posting a chart. I tried to
attach it but I'm not doing something right.
Hanging Man on SPY
Posted by slater0 on 21st of Jul 2009 at 09:22 pm
A beautiful Hanging Man on SPY...and an Inverted Hammer on SDS, both with volume.
Could someone help me understand
Posted by asantana on 21st of Jul 2009 at 11:03 pm
Could someone help me understand the significance of these candles on the daily chart of the SPY and SDS?
candles
Posted by slater0 on 21st of Jul 2009 at 11:17 pm
They're possible reversal candles...but they must be confirmed. In other words, tomorrow or soon after SPY would need to close below the close of the hanging man candle, preferably below the low of it, to confirm a short-term reversal. Same for SDS, just opposite direction.
I'm sorry I'm not having any luck posting a chart. I tried to attach it but I'm not doing something right.
Both $VIX and $VXV (N.B., $VXV open = close) ended with inverted hammers...
Posted by simon_says on 21st of Jul 2009 at 09:31 pm
Both $VIX and $VXV (N.B., $VXV open = close) ended with inverted hammers...