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No trade today... market ranging in a band...

5 min Emini Nasdaq 100

Market is ranging within a 20 point band.. If you look at stochastics alone, you might be tempted to trade.. --> look at the green circles.. But in the broader context, moving averages are flat, candlesticks have long shadows short-term MACD is close to the zero line.. all these suggest that we should stay out of the market.

Posted by Michael Taylor on June 30, 2008 5:49 PM |

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