BAX Analysis for 12.11.2006

Possible 5 waves up into the .707 fib level. Bearish engulfing candle pattern in the overbought area.

Indecision last week as evidenced by the doji.

Selling started right at the open, and continued for most of the day. Currently trading below all the major moving averages. Look for continuation and test of the $43.35 area low.