BraVoCycles
BraVoCycles
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BraVoCycles

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Editor of Market Twists & Turns — delivering unmatched stock, crypto, commodities, and forex analysis using a unique blend of Cycles, Cycle Price Projections, Elliott Wave Theory, plus technical & sentiment tools. With 30 years in financial markets, I help you anticipate turns, ride waves, and stay ahead of the crowd. Subscribe for real-time analysis and insights. Not a financial advisor.

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Joined on 25th February 2026

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BraVoCycles
Public Post

Spinning Top Candlestick

· Many mistakenly think that Spinning Top is a bearish pattern, perhaps because of the word “top” in it.

· In isolation, it is essentially a neutral/hesitation/indecision pattern; Per Bulkowski, spinning tops reverse the prior trend only about 50% of the time (a coin flip).

· A spinning top candlestick is a short‑body candle with long upper and lower wicks, signaling market indecision and potential trend reversal or continuation depending on context

· While Investopedia does not have a dedicated “spinning top” entry, its candlestick charting guide explains that each candlestick is defined by open, high, low, and close prices. A spinning top is a specific variation where the real body is very small (open and close are nearly equal) and is flanked by long wicks on both sides. This shape shows that during the period, price moved significantly in both directions but ended near the starting level.

· How it forms

· Small body: Open and close prices are almost the same. Lon

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Spinning Top Candlestick
BraVoCycles
Public Post

NDX Technical Analysis

· I warned about the Spinning Top (almost a Shooting Star candle) on 5 October; it was a yellow/red flag in combination with being well above the upper Keltner channels and a weakening Bullish Percentage Index and Up-Down Percentage.

· I mentioned to expect at least revisiting the middle Keltner, and possibly lower.

· Subsequently, the NDX hit the lower Keltner channel and crossed below the 100D MA.

· Notice also that the NDX/VXN ratio (VXN is NDX VIX) exhibited a negative divergence at that spinning top, which was another bearish sign (see the lower panel); see also the early 2026 negative divergence in the NDX/VIX ratio.

· When NDX/VXN spikes above the upper Keltner channel, it usually quickly returns back inside the Keltner channel, visiting either the middle or the lower Keltner channel; A mirror image reaction happens when the NDX/VXN ratio spikes below the lower Keltner channel.

· The circles in the lower panel indicate spikes of the ratio below the lower Keltner

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NDX Technical Analysis