The markets are trapped on a channel. If your trading horizon is longer than a couple of days, you will be better off doing something else.
The channel is wide enough to provide some excitement to day traders and swing traders, it is also well defined enough that allows for nice swing trades at the channel turns.
Look for break out of the DJ above 11.8, and break downs below 10.8. Those 1000 points there are the equivalent of $5,000 per DJ emini contract if you know how to trade them.
Nasdaq is trapped between 2350 and 2200. Again nice 130 points there.
Again, since this is an almost 10% channel, it will provide for great headlines and a lot of agitation. I will hold further opinion until we break one way or the other, but that will be after the summer ends.
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Last update : 31-07-2008 07:18
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