Market commentary for 02/09/2009
Good day!
NOTE: about next 10 days my site will be at http://www.pop35.com.hr/ I will be there until my official site will back (they said about 10 days). Thank you all for understanding.
Look like everyo0ne wait Senate votes on the economic stimulus package. As a result we got NR7 bar at Monday what suggest for possible trend day. After two buying waves Monday brought consolidation day what is good for possible continuation. We can clear see that at 60 min charts. If that will be case, then indices will made high highs on the daily charts what will be good possibility for trend reversal. For that scenario we like to see strong pace and volume. Other scenario is negative market reaction on Senate news what will give open doors for down trend continuation. It is very hard to say what we will see because technically, charts are very neutral: daily NR7 bar (odds for trend day), also doji bar (indecision), possible double top on the daily chart. All that are reasons for high trading risk and until news will come out best way is to stick with fast trades or stay flat.
Good day!
NOTE: about next 10 days my site will be at http://www.pop35.com.hr/ I will be there until my official site will back (they said about 10 days). Thank you all for understanding.
Look like everyo0ne wait Senate votes on the economic stimulus package. As a result we got NR7 bar at Monday what suggest for possible trend day. After two buying waves Monday brought consolidation day what is good for possible continuation. We can clear see that at 60 min charts. If that will be case, then indices will made high highs on the daily charts what will be good possibility for trend reversal. For that scenario we like to see strong pace and volume. Other scenario is negative market reaction on Senate news what will give open doors for down trend continuation. It is very hard to say what we will see because technically, charts are very neutral: daily NR7 bar (odds for trend day), also doji bar (indecision), possible double top on the daily chart. All that are reasons for high trading risk and until news will come out best way is to stick with fast trades or stay flat.
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