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Zenhunter
Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Hanging Man bearish confirmation alert!

Zenhunter Wed May 1, 2013 3:59pm EST Comments Off on Hanging Man bearish confirmation alert!

It is my duty to inform you that today $SPY price action constitutes a confirmation of yesterday bearish hanging man candlestick pattern.

Take a look at the daily chart below.  Yesterday price action tried but could not take out the high of 04/11/2013 and a hanging man candlestick pattern was formed.  Today down day confirms the bearish sentimental.  Be wary of further downtrend this week.

SPY_Daily

Below is the primer on Hanging Man candlestick pattern:

hanging man candlestick pattern is a sign of potential reversal

Be safe!

My 2 cents.

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