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Turning point, moving averages flat, singals from stochastics -> ??

5 min Emini Nasdaq 100

Hi,

Market is slowing down.... I would really advice you to take a step back and wait for the action to pan out before making any impulsive trade...

Price surged up in the morning only to retrace back during the afternoon session...

There is no way we could have traded this surge... it was too sudden and there were no signals from stochastics or short-term MACD... furthermore, moving averages were almost flat... I decided to stay out of the market.

Posted by Michael Taylor on October 21, 2009 5:55 PM |

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