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Entries in trading range (1)

Wednesday
Dec162009

Deadlock

It's a complete deadlock, at the moment.

The chart featuring the Bollinger Bands on SPX, INDU and NDX, became our chart in focus a couple of weeks ago, and it continues to hold that role. As you can see, even though prices moved above the 20dMA a couple of days ago, resistance was met at a flat upper band, and the indices continue to be mired within the range and until the bollinger bands start to move out of the way, there isn't going to be much chance of a new trending move.