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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

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* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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Dots

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Decorating the tree

Decorating the tree

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Thursday, September 27, 2012

YM, ES, NQ & TF Channel Update on Daily Timeframe

The Daily charts below show that the YM and ES are hugging the channel "mean," the NQ has, once again, bounced off the upper level of its channel, and the TF is trading back inside its channel. Volumes are increasing, which are likely signalling either a resumption of the uptrend, or a reversal. Inasmuch as my very short-term RSI indicator is not yet in overbought territory (a reading of 98 is overbought), we may see another day (or several) trade higher before we see a reversal to, potentially, the lower channel.

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