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NO TRADE TODAY! why? Read on

5 min Emini Nasdaq 100

Hi,
How's it going? market is lacking in direction and it is ranging today... It gapped down a little but quickly covered it up.. The moving averages are flat... There might be possilbe trading signals on highsight ( Look at the areas I circled) but I did not enter.

Firstly, stochastics did not really cross up from the oversold region... It sort of just bounced off the the oversold line at 20....

Secondly, the biggest reason is I don't like the haphazard price action with the flat moving averages.. Flat MA usually mean no trend... You don't have to force yourself to trade when the odds are not in your favor.

Posted by Michael Taylor on January 10, 2008 5:47 PM |

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