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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

...If the dots don't connect, gather more dots until they do...

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Paris

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Wednesday, September 07, 2011

Weakness in the middle...

Below are a series of 60 min charts of the major indices. I noticed a curiosity just now...that being a weakness displayed in the middle of the range that has formed since the August 8th low...there are a series of gaps around this level, which is where the markets were when the U.S. credit rating was downgraded by Standard & Poor's on August 5th.

This suggests to me that any advancement beyond the highs of this range will occur on "thin ice" and with thin conviction....and won't last long...also, that the moves above this level are purely speculative in nature and not based on fundamental soundness of the markets.

At the moment, this sideways trend is a "playground for speculative bites of the pie forming band-aids in the process."