Thursday, July 1, 2010

49% certain vs. 51% sure?

The ever-reliable market technician chessNwine has stepped out of the box and taken a more bullish stance today. He points to several hammers among indices/ETFs in his candlestick charting analysis, including the S&P 500.

But are they hammers in the definitive sense? Over at American Bulls, the S&P 500 is read as a black spinning top.

Whatever and whomever is correct, it's more potato-versus-potaahhtoe territory. The hammer/spinning top is noticeable enough to warrant every close inspection on tomorrow's open, particularly with a key jobs report due.

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