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Investopedia, by Cory Mitchell — Hammer Candlestick Definition and Tactics
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Investopedia, by Cory Mitchell — Hammer Candlestick Definition and Tactics
View the complete article at:
Hammer Pattern NOT CONFIRMED, SP-500 drops 4.89% today — Wednesday, March 11, 2020
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!
Black Thursday: “One Giant Margin Call” Drags Dow Down 10%
https://www.zerohedge.com/markets/feds-massive-quarantative-easing-fails-stocks-bonds-gold-liquidity-all-crushed
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!
SPY -Short term bottom?
STRONG SUPPORT LEVEL for SPY at 234 — dating back to December 24, 2018