Inverted Hammer July 2Technical Analysis on RMP from TD Waterhouse identifies an inverted Hammer on July 2nd.
Tells Me: The recent decline is approaching its bottom, as the balance between buyers and sellers evens out and there's an attempt (though failed) at higher prices. The Inverted Hammer appears during a downtrend with a long upper shadow reflecting an attempt a higher prices, and a small real body at the lower end of the range reflecting an evening out of the balance between buyers and sellers as the bears have lost some control. The price may have reached a bottom and ready to turn higher