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Flat moving averages, MACD close to zero line --> NO trade today.

5 min Nasdaq 100 Emini

Hi,

How's it going? Price gapped down today by 23 points, although it closed the gap, but rebounded down.. If you observed, price action is in a zig-zag manner and the candlesticks are characterized by long shadows.. This is an indication of market uncertainty. Also, the moving averages are almost flat, stochastics moving in a zig-zag manner and Short-term MACD close to the zero line... Such is not the ideal condition for trading... I stayed out of the market entirely conserving my capital... There is no need to take unecessary risks.

Posted by Michael Taylor on June 10, 2008 6:59 PM |

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