SPX Technical Analysis 01/24/2022 - *Hammer Candlestick* [Daily]
SPX found ground at 4231 Support.
A beautiful hammer candlestick showed up on the daily chart today. A hammer candlestick indicates a potential price reversal to the upside. The price must start moving up following the hammer; this would confirm the reversal.
RSI extremely oversold at 20.
The Federal Reserves FOMC meeting tomorrow , and Wednesday should help provide further direction of the market.
If dovish; expect a major rally. If hawkish; look out below.
Updates to follow.
*Trade the charts, not the noise that comes with corrections*
A beautiful hammer candlestick showed up on the daily chart today. A hammer candlestick indicates a potential price reversal to the upside. The price must start moving up following the hammer; this would confirm the reversal.
RSI extremely oversold at 20.
The Federal Reserves FOMC meeting tomorrow , and Wednesday should help provide further direction of the market.
If dovish; expect a major rally. If hawkish; look out below.
Updates to follow.
*Trade the charts, not the noise that comes with corrections*