Market preparing
for a move. Which way?
Yesterday was quite interesting in that the market opened to the
downside testing Wednesday's lows. Then there was a reversal and
market shot up to test Wednesday's high. Both the low and the high
held so we ended up with an "inside day" closing somewhere between the
two.
We are seeing a tight trading range the past two weeks and buying 1280
and selling 1295 would work well except that that low and high are being
hit in the same day. The pattern below is a rising wedge and as
the trend lines converge, something is going to give.
Chart provided courtesy of
www.decisionpoint.com
I have to cut this short again tonight as I have some friends in from
out of town. I've also been working on moving the site to a new
server in an attempt to get the new non-PayPal credit card processing
working for those who wanted to subscribe to RevShark's
TSP Timing
Newsletter without PayPal. Sorry for the delay in that.
I had promised this a few weeks ago but things haven't gone as smoothly
as I'd like.
Administrative note:
We will be doing a server upgrade today or over the weekend so we may experience
some downtime. If all goes smoothly we'll be back online quickly.
If not, we'll thank you in advance for your patience. How ever long
it takes, we will continue to have access to email alerts.
That’s all for today. Currently 100% G. Thanks for
reading. See you tomorrow. Have a great weekend!
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