Potential Bottom SP500 Using simple Candlestick Charting
Hi Everyone,
I believe we may have reach a bottom. Review my Candlestick charting video and let me know what you guys think. I will look for conformation with the RSI but this may be the bottom. I'm not saying we are going to go in "v" shape up, we may go sideways for a while and retest the lows. Review and let me know your thoughts.
Points i'm trying to make:
1) Doji candle stick shows indecision by the market yesterday March 23rd.
2) Even-though the stimulus bill has not been passed by the US senate, traders and insiders tool their positions already.
3) Line Break chart shows trend reversal.
4) Bottom may be retested in the future
5) I will be looking for RSI for bottom conformation.
I believe we may have reach a bottom. Review my Candlestick charting video and let me know what you guys think. I will look for conformation with the RSI but this may be the bottom. I'm not saying we are going to go in "v" shape up, we may go sideways for a while and retest the lows. Review and let me know your thoughts.
Points i'm trying to make:
1) Doji candle stick shows indecision by the market yesterday March 23rd.
2) Even-though the stimulus bill has not been passed by the US senate, traders and insiders tool their positions already.
3) Line Break chart shows trend reversal.
4) Bottom may be retested in the future
5) I will be looking for RSI for bottom conformation.