Time to buy SPX500, RSI Divergence, Candle Hammer, Trendline Rev
So I'm fairly certain the market will have its first pullback and likely a reversal.
Key notes for the reversal - - - - -
1. Check out that Candle wick. It reached that Purple trendline and immediately retreated indicating that big players have taken their bullish positions. At the end of that candle close, it will show a very clear hammer candle.
2. Look at the Divergence between the RSI and price charts. The Divergence is indicated by the Green(RSI) and Red (Price Chart) Trendlines. RSI is making Higher Lowes while Price chart is making Lower Lows indicating a loss in momentum and a reversal. On top of that RSI is beginning to build an RSI Trendline indicated by the same Green trendline.
3. Price has reached the Lower Purple trendline that has supported price since June 2019 along with August 2019, and October 2019.
Key notes for the reversal - - - - -
1. Check out that Candle wick. It reached that Purple trendline and immediately retreated indicating that big players have taken their bullish positions. At the end of that candle close, it will show a very clear hammer candle.
2. Look at the Divergence between the RSI and price charts. The Divergence is indicated by the Green(RSI) and Red (Price Chart) Trendlines. RSI is making Higher Lowes while Price chart is making Lower Lows indicating a loss in momentum and a reversal. On top of that RSI is beginning to build an RSI Trendline indicated by the same Green trendline.
3. Price has reached the Lower Purple trendline that has supported price since June 2019 along with August 2019, and October 2019.
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