SP-500 Bottom? — Short-Term Bullish ‘Hammer’ Candlestick Pattern

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Investopedia, by Cory MitchellHammer Candlestick Definition and Tactics

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https://www.investopedia.com/terms/h/hammer.asp

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5 Responses to SP-500 Bottom? — Short-Term Bullish ‘Hammer’ Candlestick Pattern

  1. Bruce Steadman says:

    Hammer Pattern NOT CONFIRMED, SP-500 drops 4.89% today — Wednesday, March 11, 2020

  2. Bruce Steadman says:

    CAPITULATION (major selloff)! — Short term bottom? — SP-500 drops 9.57% today, Thursday, March 12, 2020

    Trade volume on SPY today was 372.4 million shares. For comparison, the major market bottom on December 26, 2018 was ‘only’ 228.3 million shares!

  3. Bruce Steadman says:

    I bought Strike $310 (about 15% OTM), 3 month expiration date CALLs on SPY today at about 1o:30 ET in anticipation of some general recovery action in the market in the near future.

    Short term bottom? SP-500 increases 8.55% today, Friday, March 13, 2020.

    So far, so good!

  4. Bruce Steadman says:

    SPY -Short term bottom?

    STRONG SUPPORT LEVEL for SPY at 234 — dating back to December 24, 2018

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