Wednesday, September 3, 2008

Today's Markets


Although the chart looks confusing and patternless right now, it really isn't. Look carefully at the market from 8/11 to today. Notice prices have been moving in a 3-4 point range. Also note the 10 and 20 minute SMAs are moving straight across, indicating a directionless short-term market.

Bottom line, we're moving sideways until we move above 130 or below 127.