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  • Tuesday, September 27, 2005

     

    Daily analysis for September 26th, 2005




    From: BestDayTrade<success@bestdaytrademail.com>
    Reply-To: BestDayTradeunsubscribe@bestdaytrademail.com
    Subject: Daily analysis for September 26th, 2005
    Date: Mon, 26 Sep 2005 10:45:00 -0800


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    Daily analysis for September 26th, 2005
    (Use this chart and commentary to plan your trades. The goal is to trade with the market, never against it. This chart will show our expectation, projection and commentary. This is a very important tool for you.)
    • The NDX rose 5 points to close at 1572 our bias remains Neutral


    • The SPX dropped 3.16 points on light volume, we remain short term Bearish.


    TRADING CONDITIONS

    Friday's price action was very tame and well controlled considering that Rita was bearing down on the Texas and Louisiana the good news is by the end of the trading day she was scaled down to a category 3 storm, the bad news is she will still shut down the rest of the countries oil refineries and this will sooner or later hit the economy and corporate growth and personal spending.

    We will look to SELL into any strength or only BUY leading sectors.

    Market Internals close mixed on the day and Volatility levels are beginning to confirm this downside price action which means that any selling will be strong and with conviction so do NOT try and pick a bottom.

    Our prayers are with the people in Rita's path.

    Good trading to you!

    BestDayTrade.com

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