Thursday, January 12, 2006 4:41:04 PM
It was a WalkDown on very low Volume, only half the ten day average...Today's candlestick was a fully encompasing red over yesterdays white body...That is VERY Bearish...The close did however hold support at the 15SMA just barely...Amazingly, the Parabolic SAR is still positive, and the Chaulkin Money Flow did not break below zero, and the OBV and A/D lines didn't take that big of a hit...ALL of the Lower Indicators do NOT look good...CCI, ADX, Stochastics all fell hard, and the MACD fast line crossed down throught the slow line...Overall, today's candlestick, and the average of all the Indicators signal Bearishness, which catches me by surprise...The Market Overall had a VERY bad day, and it IS Reporting Season, so almost anything can happen tomorrow, depending on who is Reporting...
It is still finding support at the middle Bollinger Band, and the 15SMA...It formed an identical candlestick on 12/07/05 and put in a doji the next day, and rallied the next two, so all is not lost here...The Inverse Head and Shoulders is still intact, if the bottom can be found Soon!
Good Luck To ALL ;^))
PowerPole >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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