Quick Tidbit

I have heard Steve Nison (the candlestick king) say that in his research about 60% of the time after a hammer candlestick, the market will come down to the lower half of the lower shadow before truly reversing to the upside. So today's decline just puts the market near the middle of Friday's lower shadow, and may be par for the course. However, I just want to reiterate that the market could be in an extremely weak position if there is a close below Friday's low.