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S&P long after weekly hammer

Long
CURRENCYCOM:US500   S&P 500
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PLACE LONG, PUT STOP LOSS BELOW WICK OF PREVIOUS WEEKS HAMMER . WE ARE AT APPROXIMATELY 50% RETRACEMENT OF THE HAMMER SO IT IS A GOOD PLACE TO BUY. LOOKING AT HISTORICAL DATA, WHENEVER THE S&P 500 BLESSES US WITH A BULLISH WEEKLY HAMMER , IT TENDS TO NEVER GO BELOW THE WICK AND GO UP FROM THERE. NO TECHNICAL ANALYSIS NEEDED ON THIS ONE .

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