Nope -- bulls you did not do it right..........

Okay bulls -- you tried hard but that is not the way to defeat the bears. A candle that does not even reach midway the last candle -- well enclosed in its body -- and you go out to defeat the bears with that? Think again -- that is not the way to do things. You had a wonderful opportunity to get the bears to the knees but then we decided to put and a half hearted effort. Anywayz ...... read on.

There has been no change in the indications on the charts that suggest that we should go up any higher. But then the markets will decide tomorrow what they have to do. And they do have a strong possibility to go green and go to high-highs'. And if they do that it should be on the strong global clues that we got from the Europe and US. The Europe was up by almost 2 per cent. FTSE was up 2.52% in green, the Dax was up 1.69% in green and CAC was up 2.23% in green. This was after a very very flattish opening. The main reason was US pumping up the sentiments -- oil fell and Federal reserve chairman Ben said that inflation pressures are likely to moderate in the near future. That gave a good jump to Dow Jones -- that ended almost 200 points up - that is 1.73% in green. NASDAQ on its part was up 1.44% and S&P 500 was 1.13% in green. These figures coming at this time will be music to bull's ears. And it is this reason that can improve the sentiment and make the markets go up. We will however also see how the Asian opens tomorrow morning.

On the charts the pattern made the last trading day, that is Friday could be classified as 'Harami'. The word Harami means pregnant, the previous candlestick to it being its mother. The small candlestick is the baby or the fetus. The Harami is not as much as of a reversal signal as the hammer, the hanging man, or the engulfing patterns but all the same this indication coming in face of the global cues may give another chance to the bulls. and this is where the indication end for the Bulls. the Bollinger bands continue widening - indicating the contribution of a bearish trend that was set in motion on 12th August. The 5 EMA line continues trailing below the 20 EMA. The MACD remains bearish with the Red Line trailing below the blue. RSI is basically indecisive -- perhaps mildly bullish. StochRSI remains oversold. The TRIX is looking down like there's no tomorrow. the mass index has stopped moving down below the 23.5 marker and may start climbing up in the 26-27 band. The slow stochastic on the other hand has started looking bullish with the red line crossing over the blue and both giving a buy signal.

All in all the confusion remains with the lines divided between the bulls and the bears with a large no man's land in between. This may lead to highly volatile sessions in the coming week. Watch your back whatever positions you take and make sure that you hedge your positions before you take sides. I will be adding to this right up if I have some time tomorrow morning after seeing the Asian markets open. Best of luck to everyone and have a ball of time.

P.S - If we do not get the Nuc deal working there may be hell to pay by Congress. Watch out for this news to move markets.