Tuesday, March 21, 2006
We just saw how wicked even the mini Dow Jones can be with a swing over ten minutes of 28 points. After yesterday's support and resistance chop chop salad bar I might just run some errands this morning and come back this afternoon. I don't like to predict but on the daily Japanese candle stick chart we seeing indecision and what I see as a topping action. The 60 minute Japanese candle stick chart is flipping back and forth for three days. No trend.
Now a couple of hours after the opening wildness I see nothing opening up. The Dow and Emini S&P remain locked in the support and resistance channel with gyrations either way. That makes me uncomfortable and I don't trade it. Off to errands.
Just coming back into the room in preparation for my day trip and I see the Mini Dow has finally taken off. My mental decision was to quit for the day and I'm sticking with it.