After the death cross (50 & 200 EMAs) we see the SPX now failing for 3 consecutive days to break back above the 200ema (black).
The latest candle is called a "hanging man" which is the same shape as a hammer, the difference being that the hanging man occurs after an advance and is a bearish signal.
As a bearish signal it would gain strength occurring at a known resistance point (which it has at the 200ema).
A lower close on the next candle would confirm the signal.
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Last
8,603.0 |
Change
7.200(0.08%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,595.8 | 8,616.8 | 8,589.5 |
| XJO (ASX) Chart |