Wednesday, July 21, 2010

Market Comments 21/7/2010



NewHighs/NewLows on the 50 Leaders says the market is going higher. (See bottom Chart).

The Advancers/Decliners Thrust chart says momentum is weakening. (See middle Chart).

Today's candle stick (top chart) was a "doji" - signifying indecision.

The MACD is just under the Zero level.
The RSI is at its mid-line.
The Slow Stochastic is at its signal line.

All of that is about as indecisive as the charts get.

Surely tomorrow will provide direction? At least for the short-term.

Cheers
Red




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