Wednesday, April 22, 2009

FAZ financial "short" etf

FAZ closed today with a hammer buy signal. Need to see confirmation tomorrow with an up open. As you can see on the chart, the grey line(8 day moving average) has been resistance since it broke last month at $85.
The 8 day moving average needs to become support vs resistance. ......that could happen very soon.

update: FAZ never gave a confirmation up open.....instead it opened down.