Was expecting a decent bit of downside for 12th Sep. Turns out there WAS some downside, but not a lot. FTSE went on to gain 25 points by the close. Some good trades, though had one bomb.
Outlook for 13th Sep 2007: If I go by good ol' 3PS, we've had the upper two ribbons turn green, indicating bullishness. Supporting the case for bullishness is the fact that FTSE closed above its 3-day balance point yesterday. Channel on EOD chart shows there is an upside target to be reached, perhaps in the vicinity of 6510 or so. It will make sense to look essentially for longs today. The only sour note is t struck by the PT signals:
(1) Narrow Range Day 4
(2) Narrow Range Day 7
(3) 2 Day ROC Sell
(4) Low Breakout Setup
As ever, I will wait for the market to show its hand before trading.
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