| Weekly Trend: | Down |
|
| Daily Trend: | Down |
|
| Daily Momentum: | ___ | Up |
A better day in the local market but still somewhat ‘watch and wait’ in the US as earnings continue to come forth. As I stated several nights ago, the market is at a state of flux right here and the ‘make or break’ is upcoming earnings. No surprises is bullish. Weaker data is bearish. I favour a continued, albiet brief, probe higher before the final leg lower toward our larger target zones. Tonight could see a +/- 200pt range for the Dow – take your pick.
Reminder: I will be speaking this Friday and Saturday at the Melbourne Traders & Investors Expo. This will be my second last scheduled public appearance in 2010 so if you’re looking for some simple yet robust trading setups, come along to my seminar for a fully disclosed discussion on Swing Trading. Tickets are just $45 for 1 1/2 hours, but they are now very much limited.
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