Thursday, January 24, 2008

Markets, charts look erratic today


There appears to be some uncertainty in the market that is leading to a slightly erratic appearance in the charts today. This may represent just a temporary consolidation until buyers or sellers win out. The initial strong buying has dissipated, and a malaise has settled in for the time being.

Note that in this chart (tick chart), the Bollinger Bands have turned flat, so trading is not warranted. These conditions are a good one to lose money for traders. I will wait it out!