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No trade today. Moving averages flat, short-term MACD flat.

5 min Emini Nasdaq 100

Hi,

Market is pretty quiet today... It is a typical day you wouldn't want to trade and the reason is simple..

1 Moving averages are flat
2 bollingers are not expanding.. the bollinger bands are flat as well..
3 candlesticks have long shadows.
4 if you look at stochastics alone, you might have a trading signal...
5 short-term MACD cuts up the signal together with stochastics.. Do we have a good signal to go long here?

But if you combine this with all that you know about technical analysis, you will reach the conclusion that it is not worth to go long at all..

Posted by Michael Taylor on October 20, 2008 5:55 PM |

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