S&P 500 – Spinning Top Candle

By | June 1, 2015

The final hour sell-off today saw the S&P 500 pull back to mid-range, just above its opening level, forming a “spinning top” candle. This particular candle has a narrow opening and closing range and a high wick and a long lower shadow. The message is one of indecision about the future direction of the market, however, looking more deeply and following last week’s eveningstar pattern, it might suggest that the bulls are losing conviction and a transition in market sentiment is underway.

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  1. Pingback: Groundhog Day on the S&P Chart - Rightview Trading

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