Where To Now?

Yesterday the market open and closed at the same level, that was at 2660. In Japanese candlestick the bar is called doji. When the market opens and closes at the same level, the market is said to be in indecisive position. So, will today's market be indecisive situation as well?

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Today

In long run, the market is still bullish but the very very short term, the market looks like it is bearish now. My forecast for today is as follows;

1) If the market opens between 2661 to 2710. Sell after the market has moved up 12 points above the opening level. Make sure that this 12 points up are not within the range of the level 2710 when the market opens. If the market manages to beat up the levels between 2726 to 2733, the market may go further up especially if the market opens in the upper part of the 2661-to-2710 levels. If the market manages to beat down the levels between 2640 to 2646, the market may fall further especially if the market opens in the lower part of the 2661-to-2710 levels.

2) If the market opens between 2711 to 2721. Buy after the market has moved up beating the level between 2725 to 2730.

3) If the market opens between 2650 to 2660. Sell after the market has retraced beating down the levels between 2639 to 2645.

4) If the market opens between 2726 to 2746. Buy after the market has dropped a bit and then moves up beating 5 points above the opening level.

5) If the market opens between 2625 to 2645. Sell after the market has moved up a bit and then falls 5 points below the opening level.

6) If the market opens other than the above.....I don't know Mike...

7) Please refer to # 6 ( posting dated 12th january 2009 )

P/s Who will be the next President of Iran in this coming election?

Have a nice trading day......

5-8.58 am