Humble1 and Swing Trading Friends Message Board

To: h_ who wrote (6801)

10/22/2011 11:06:49 AM

I think you are mixing up your time frames. I could see a bullish hammer on the daily chart as signaling ST exhaustion because the daily is at bonafide overbought status, but the weekly chart is far from overbought, in fact the weekly MACD just now gave a bull cross from below zero line which if anything could signal the start of an uptrend not the exhaustion of one. And that hammer stick I posted was on the weekly chart so I disagree with your interpretation.