Booming Hookah Lounges.

The new trend in America's deepening love affair is with an ancient Middle Eastern tradition: hookah smoking.
Several factors account for the hookah boom. The smoking bans that municipalities nationwide have imposed in the past decade affected restaurants and bars but not establishments dedicated exclusively to tobacco use. Unlike cigarette smoking, which has turned into something of a furtive activity, hookahs are inherently communal. Customers can get into a hookah lounge at age 18, three years before they are allowed in a bar in most states. (The largest number of new lounges are found in midwestern college towns such as Lawrence, Kansas. and Madison, Wisconsin.)

And most important, hookah lounges are a very attractive business model.
Tracking the Dow Wednesday,26/08/09

Asian Index Futures Expiry:31/08/09
9:30am:--40.0 points bearish gap-down opener.

Weakness is most pronounced among energy stocks,Oil futures were last quoted 1.3% lower at $71.10 per barrel.

10:30am:--After sliding to a low with bullish harami,the index has now closed the first hour at the high.

New home sales for July came in at an annualized rate of 433,000 units, which is more than the 390,000 that was widely expected.

11:30am:--Pull back to the MAV support line and touch the bear pivot.

Industrial stocks are currently grappling with the most pressure.

12:30noon:--Rebounded above the MAV resistance with a bearish hammer.

Market participants were generally unimpressed that durable goods orders made their sharpest increase in two years by spiking 4.9% in July, but that's largely due to the success of the Cash for Clunkers program.

1:30pm:--A pullback to bear pivot were met with bullish ascending soldiers.

There isn't any immediate news item to account for the move.

2;30pm:--After a bullish spike,it was engulfed again partially with bearish hammer.

The swing traders are having a good time.

3:30pm:--Holding at the MAV support line.

Participants sitting on the sidelines in the last hour.

4:00pm:--Ending the day with a dark cloud cover.

The Tri-Star Doji here should indicates a trend reversal in this case a pullback.

Since the August month candlestick is a big bull,a pullback will be within Friday's body.
The bulls are still in control to complete the anniversary of the financial turmoil that began last autumn.

They might bring surprises contrary to our belief.