Despite huge market moves we are moving remarkably sideways. To be more specific we're trading into a relatively large triangle pattern. Give it a few more days and it has to break one way or the other - or of course if we believe Henry Paulson we would read this triangle to say that we are trading sideways until all trading dries up completely and the sky falls....
Seriously nothing's going to dry up completely. By my best guestimates we can't trade forward in this triangle more than another 6-7 days. So at least by this time next week we should see a break one way or another. In the mean time, don't be surprised if we just get to keep going up, and down, and up, and down.
Also it's worth noting, despite huge moves in the market the last few days, and mighty manipulation by the government, the volume all week has been relatively low. With that said look to trade the market in the direction of a breakout of the triangle when there's enough volume to push through the moves. Until then - Consider day trading and hold on tight :)
Happy Trading tomorrow.
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