Hi Shoppers

We all know how powerful the candlestick hammer can be.

It is always found at the bottom of a downtrend signaling a change in the trend.

The session continues lower, creating a long lower shadow, until the underlying hits a certain price where the shorts cover and/or the buyers enter the market causing the stock to close at the highs of the session.

This causes uncertainty and thus a possible change in the downtrend.

I am seeing several distinct hammers on the major index charts.

Here is the S&P 500 (Ticker: SPX):

Invesco QQQ Trust (Ticker: QQQ):

IShares Russell 2000 (Ticker: IWM) is actually a doji which is also a signal of change in trend:

And lastly, you know I always have to add Bitcoin (Ticker: BTCUSD):

In all, it looks to me like we could bounce this week.

I will be watching SPXU and SQQQ for a nice quick easy cheap shot.

Trade Review

In my last writeup I liked going long Verizon (Ticker: VZ). I haven’t entered a trade yet due to the market weakness.

I think the chart is still intact and I will be watching it on Monday.

Thanks for Reading … See You Next Tuesday.

Licia Leslie