Oversold, signaling reversal with upcoming catalyst

On Aug 28th this signaled a reversal demonstrating a similar pattern, oversold after two red days with a long-legged Doji candle, indicating this pattern may result in upside again. Support below can be used as entry upon re-test, short-term resistance above can be used for profit targets upon rejection. Fibs drawn are a retracement of the recent move high to low. Above the 0.5 fib is particularly bullish with targets above. Note the upcoming catalyst, inclusion on the S&P 500 slated for 9/21.

Trade stängt: Stopp nått:

Should have taken profits earlier at the near-term resistance, this fell back with market weakness below the support level. Will likely re-enter over given support level listed.