That’s the dragonfly doji candlestick chart pattern I’m referring to in the SPY daily chart.
See the SPY daily chart below:
Here is the description of the Dragonfly Doji chart pattern:
The Dragonfly Doji is a significant bullish reversal candlestick pattern that mainly occurs at the bottom of downtrends.
Per this positive price action coming to the end of today, I bought back most of what I sold in the morning plus some. I was able to buy DDD & SSYS as a discounted price.
I do not know how the fiscal cliff resolution will turn out this weekend but price action is telling me the bull is putting up a good fight against the bear today.