Indice S&P 500

SPX Technical Analysis 01/24/2022 - *Hammer Candlestick* [Daily]

189
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*

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