Market ranged bound... turning point ??
5 min Emini Nasdaq 100
Hi,
So price is at an all time high and Dow has hit above 10,000. Does this mean that the exuberance is going to continue all the way? I don't know...
As day traders, our job is to capture whatever trend there is and give up predicting the direction of the market...
What I can tell you today is that the market is ranged bound ( range of around 10 points ) and moving averages are flat... Although there are various signals from stochastics, the previous two points, ( ranging and flat MA) prevents us from entering the market..
No trade today.