Another sideways price bar in the Dow closed the week. The average had a 9+ point gain on Friday. The odds now favor more sideways moves, or indecision in the broad market. The indicators remain overbought, but the proprietary moving average curved upward. That has to break down and when it does, I think we'll have a tradable down trend. Until then, small up and down days will be the rule. Will the break happen before the end of the week?
I think it will.
posted by +Bob at 11:51 PM
1 Comments:
Bob,
I've been reading your blog on a continous basis and it has been very informative. I believe this sideway movement will be throughout this whole summer.
This week should be huge with cpi, ppi, opec meeting, and triple witching all occuring should be the catalyst for the market. Also, do you work in the financial industry as a trader, analyst, economist or performing this blog as a personal project/hobby?
Post a Comment
<< Home