Bottom candles tend to have a lower wick. This represents the bears bringing down the price and the bulls overcoming the bears and bringing price back up. Hence the 'bottom'
Last week SPY decline lacks a wick. Suggests more Down to come.
Been watching this for a few days now. Price action has hit and creeped over the upper trend line but not enough to call it a break. We have a 3 push setup and I've noticed a cypher pattern completed already too. In addition I also like the wicks that PA has left, proving patience pays. Great time to short this pair with great risk reward. For targets the 38.2...