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.



Categories: Bearish Candlestick Pattern, Hanging Man

Tags: , ,

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