Wednesday, June 28, 2006

BA Hammer Candlestick?
I hope so. I'm sure this hammer will mean nothing if the Fed's decision is negative tomorrow but if its not it might signal a push back above 50 MA.




For those who don't know what I am talking about:
"The hammer typically appears after a prolonged downtrend. During the period of the hammer candle, the stock or index experiences strong selling. As the day or week goes on, however, it recovers and closes near the unchanged mark -- and sometimes even higher. In these cases, the market is potentially "hammering" out a bottom." --streetauthority.com

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