SPX - There's a likely reversal of trend. Could last a couple candles, could last a while. If we get a continuation of trend with no lower wicks that breaks the yellow trend line, game on.
https://i.imgur.com/BgruXcu.jpgWhen viewing the market through beer candles, you have to understand that each candle opens at the halfway point of the previous candle and represents the average of the current time period's action.
Open = 1/2(open of previous bar + close of previous bar)
Close = 1/4(Open + High + Low + Close)
High = Max of high, open, and close.
Low = Min of low, open, and close.
A strong trend up will be green or unfilled and have no lower wicks. Opposite for strong downward trend. A candle with a wick on both sides is around a 75% signal that a reversal of trend is either imminent or soon to be.
Previous days like Friday (reversal candle without a preceding double wick candle and looking like a strong upward trend green candle) have usually involved another 2-4 days of continuation of trend during this years chart.
So the beer candles have spoken and point to at hopefully, at least half a week of continuation upward. If any day ends with a red candle, a bottom wick, or a double wick, your best to exit your short to mid term longs and wait for confirmation of new trend or resumption of current trend.
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https://www.aspris.co.uk/wp-content/uploads/2017/07/Heineken-330ml-scaled.jpg