Note the 30min candle from Thursday's low..
As it was developing, I was able to see that instead of proceeding lower, buying had obviously surfaced and forced the Hammer formation..basically, new low in a down market that rally's and closes below but close to where it opened.
The key of course was how the next few candles all held that low and started to setup for a new move higher.
Which takes us to Friday's +200pt higher move.
More importantly, it was at the time of identifying this hammer, that I sent out the sell signal for our CVOL position..which proved to be very prescient.
Btw, this isn't the first time I've been able to identify a Hammer on a 30min Index chart that eventually stalled the selling resulting in a nice rally.
Check out this post from February 5th of this year.
Some times the most subtle action has the greatest of consequences!