SPX Technical Analysis 01/24/2022 - *Hammer Candlestick* [Daily]
SPX found ground at 4231 Support.
A beautiful hammer candlestick showed up on the daily chart today. A hammer candlestick indicates a potential price reversal to the upside. The price must start moving up following the hammer; this would confirm the reversal.
RSI extremely oversold at 20.
The Federal Reserves FOMC meeting tomorrow [01/25/2022], and Wednesday [01/26/2022] should help provide further direction of the market.
If dovish; expect a major rally. If hawkish; look out below.
Updates to follow.
*Trade the charts, not the noise that comes with corrections*
A beautiful hammer candlestick showed up on the daily chart today. A hammer candlestick indicates a potential price reversal to the upside. The price must start moving up following the hammer; this would confirm the reversal.
RSI extremely oversold at 20.
The Federal Reserves FOMC meeting tomorrow [01/25/2022], and Wednesday [01/26/2022] should help provide further direction of the market.
If dovish; expect a major rally. If hawkish; look out below.
Updates to follow.
*Trade the charts, not the noise that comes with corrections*
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.