Market Green Shots ($SPX SPX)
Heikin-ashi helps remove Japanese candlestick patterns from your trading.
It also makes available the alternative to confirm Japanese candlestick patterns on charts.
In the end, it’s up to the trader what he/she wants.
The weekly HA S&P-500 chart looks positive:
- Bullish engulfing pattern on the S&P-500 weekly chart (top pane)
- The slowdown of the weekly downtrend is visible on the heikin-ashi candle chart (middle) where the last two red candles have both (small) upper and lower wicks (middle pane)
- haDelta performed very well even in this case: It generated a bullish signal two weeks ago when haDelta moved above its short average SMA(3) (lower pane)
Conclusion? On the weekly charts, there are weak signs of a market trend reversal. The confirmation comes when SMA(3) will turn positive.