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Soultrader

Oct. 10, 2006 Market Thoughts

By Soultrader, in Market News & Analysis

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Soultrader    12

Soultrader
Posted

We have 4 days of rangebound trading. Today's action was relatively easy to trade as price rotated back and forth between the VAH and VAL.

 

While technically price is strong, fundamentals are worried about the economy. Since I am a chart based trader, the markets talk to me in terms of price.

 

The rest of the week or perhaps next week will be interesting as we shall see if price can remain above the May high's. Price will break in either direction and will be explosive.

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