SPX S&P 500 Daily Chart Three Black Crows

The SPX prints three down days in a row creating a 'three black crows' candlestick pattern. The pattern confirms the trend change off the top and forecasts a weak stock market ahead. The pattern occurred in March with prices closing at the intraday lows, however, after a fourth down day stocks recovered in the spring time rather than fail. Interestingly, price did retreat again in late June early July to come back down to the late March lows, where the Greece resolution bounce occurred.

The 50-day MA is 2103 and price is at 2102 so a pivot will occur from this level today. Bulls win above 2103. Bears win below 2103. Time will tell if the three black crows lead to further market weakness this time around. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.