Wednesday, April 3, 2013

NYMO and NAMO with Bollinger Bands

Note that the NYMO and NAMO indicators closed below their lower BB's today which has been a good guide at indicating bounces.  However that said, price can run below the lower BB's for a bit and I think the odds favor that some kind of Head or top is in place for the market, thus I think any bounce would simply form a lower high at this point.  

Remember we have the Jobs report this Friday and of course North Korea saber rattling, so volatility is expected.

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