Those moves...down hard then back up hard...or...up hard the back down hard...or...big red body candle followed by big green body candle or vise versa...are one of my favorite things to look for as an indicator of a reversal of previous direction.

You'll see several place on the chart where these things occur. Depending on where in the pattern they occur seems to be a determining factor as to the strength of the reversal move.

Going to put two charts up here on this one. The first, a daily showing past instances and this latest one. The other chart will be a weekly...it will show one of those "Flip Flop" moves on a weekly basis. You can see it on the daily...it looks like a head and shoulders pattern on the daily...on the weekly a flip flop.

Well...other way around...weekly then daily. Here's several instance of the flip flop, or whatever they're called as I am sure others have seen this phenomenon before me and named it something else.

Notice the big one during september...a beauty on the weekly chart...on the daily it will be the head part of a head and shoulder pattern.