SP500 vs XJOinverted hammer before COVID dropNow uptrend...

SP500 vs XJO
inverted hammer before COVID drop
Now uptrend reaching towards all time highs.
Formed Hanging man candle stick?





https://www.investopedia.com/articles/active-trading/040914/understanding-hanging-man-optimistic-candlestick-pattern.asp

The Hanging Man Explained

The hanging man occurs when two main criteria are present:

• The asset has been in an uptrend.
• The candle has a small real body (distance between open and close) and a long lower shadow. There is little to no upper shadow.

Given these two criteria, when a hanging man forms in an uptrend, it indicates that buyers have lost their strength. While demand has been pushing the stock price higher, on this day, there was significant selling. While buyers managed to bring the price back to near the open, the initial sell-off is an indication that a growing number of investors think the price has peaked. For believers in candlestick trading, the pattern provides an opportunity to sell existing long positions or even go short in anticipation of a price decline.

The hanging man is characterized by a small "body" on top of a long lower shadow. The shadow underneath should be at least twice the length of the body.