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S&P Makes A Hammer At Support, But Not Before Making A New Swing Low

Published 03/27/2015, 12:27 AM
Updated 07/09/2023, 06:31 AM

Today's price action on the S&P 500 was something I found interesting and worth observing. The daily candle ended up making a hammer off support, as the chart below illustrates. However, the intraday low was below the swing low on March 11. It also seems as though March 23 was a swing high, and one that is below the February 25 high.

Ultimately I'm still looking for about 10% more before cutting some of my position, but the recent price action illustrates some shakiness in the market, in my opinion.

S&P 500

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