TFT Critical Interim Update for August 31, 2010

Hello Traders,

Below is the latest TFT Critical Interim Update for August 31, 2010.  The market has vacillated wildly over the last 3 months as concerns about the banking and investment houses on Wall Street has given way to concerns about the economy.

Early in July speculators drove the market up in anticipation of a “good” earnings season. Prices are now lower than when earning season began.  Bulls are hanging on and turning the market up on any news that has slight positivity.  There are more depressed bulls than there are aggressive bears.

Below is a chart displaying the conflicted bullish and bearish patterns that have the market locked up. I expect a resolve in long term direction within a week or two.

Click on chart to enlarge and click again for larger version

Leonard Novy

www.Trainingfortraders.com

info@trainingfortraders.com

760 841 1522

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