Charting Yesterday’s Midday Reversal

By | November 18, 2015

The market was higher early in Tuesday’s session building on Monday’s gains, but that momentum shifted dramatically around noon. The ten minute S&P 500 SPDR (SPY) chart shows the decline in price and an increase in volume that began midday.



The reversal and weak close formed high wick, narrow opening and closing range doji or shooting star candles on the daily major market index charts. These candles reflect a failure to hold a higher price and are often seen as key reversal candles, but of course, like all technical signals or candle patterns they require follow-up confirmation

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