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Flat moving averages, narrow bollinger bands, short bodied candles --> No trade today

5 min Emini Nasdaq 100

Hi,

We might be at a turning point these next few days. If price does not fall down again, it will continue to go up for another few more days, continuing the uptrend. No trade today, prices are just hovering up and down around the moving averages which are flat. Bollinger bands are flat as well. Short-term MACD is hovering around the zero line as well. You can tell that this is no condition for trading.

Posted by Michael Taylor on April 23, 2009 5:52 PM |

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