Ha, I think we essentially just posted the same thing except I
reviewed the S&P. Definitely as you noted is a piece of a
bottoming process but is not necessarily the ultimate
"trigger". Also we discussed this yesterday on the board but
the Hammer is a Low Probability Candle.
What will be interesting is now we also have tomorrows numbers
and then traders will have to decide how they want to position
going into the weekend. Lately the markets have seemed to
make it difficult for equity traders often moving the markets on
off hours and having an overall "gaping" nature. If would not
surprise me to find a bottom here today and then regardless of
tomorrow numbers (gap up, down or flat) then move lower as traders
fear weekend news - lastly it could culminate in a gap Monday as no
news or positive news comes out of Europe - Just some fun
gameplanning.
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Ha, I think we essentially
Dow
Posted by tom on 4th of Aug 2011 at 10:03 am
Ha, I think we essentially just posted the same thing except I reviewed the S&P. Definitely as you noted is a piece of a bottoming process but is not necessarily the ultimate "trigger". Also we discussed this yesterday on the board but the Hammer is a Low Probability Candle.
What will be interesting is now we also have tomorrows numbers and then traders will have to decide how they want to position going into the weekend. Lately the markets have seemed to make it difficult for equity traders often moving the markets on off hours and having an overall "gaping" nature. If would not surprise me to find a bottom here today and then regardless of tomorrow numbers (gap up, down or flat) then move lower as traders fear weekend news - lastly it could culminate in a gap Monday as no news or positive news comes out of Europe - Just some fun gameplanning.