Hindsight Pig-Peg - A Single 15-min Candle = 1000-Point Rally?
Hindsight Pig-Peg's are not as impressive as foresight Pig-Pegs. Even incorrect foresight Pig-Pegs (see all prior Pig-Pegs) are more impressive than anything made in hindsight.
Why do this then? Because I think it may provide crucial information for future market rallies.
Broadly speaking, this may also offer some insight into the true nature of reversals, and possibly, some things to look for.
If this is correct, then that means that the impetus for 1000 points worth of bullish price action can be pinned to a teeny-tiny, singular 15-minute candle.
SPX
Why do this then? Because I think it may provide crucial information for future market rallies.
Broadly speaking, this may also offer some insight into the true nature of reversals, and possibly, some things to look for.
If this is correct, then that means that the impetus for 1000 points worth of bullish price action can be pinned to a teeny-tiny, singular 15-minute candle.
SPX
Comment:
If you look at the VIX post below, it seems that volatility peaked on this exact date (March 19th, 2020). Price didn't actually reverse until couple days after the peak...
Comment:
***S&P price did not definitively reverse until March 24th, which is after the VIX "blows off" down to the 90s.