Biggest hammer evAr today

that epic hammer of epicness failed epicly

 

Yet

 

I am shocked

 

I think its time to wait until the SPX breaks 1200, that will create the next buying opportunity!

 

Always wait for confirmation when using candlestick analysis or use it to confirm another trade signal. That hammer line long lower shadow is NORMAL in relationship to the range of the prior interval (bid down day)...

That's not a bullish sign.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880

Mark

 

I was watching the market so closely that my nose hit the monitor

 

We may be making another hammer today.

Is two hammers in a row super bullish?

 

Technical analysis is a joke.

Ten TA people look at a chart, 5 people are bullish, 5 people are bearish.

It's all a load of crap.

 

lol

 

Should be obvious that someone will be right and someone else wrong. Simply, someone is using TA and the others not sure if it is TA their using or looking for reasons to validate an existing trade position via single candlestick analysis (a big no no and it's not TA).

Thus, in many cases, it wasn't TA that got them into a trade in the first place.

Mark