Hurray! another white candle....

0600hrs 31 Oct 08: The US closed green in so called "relatively calm session" by yahoo finance. Dow has ended 2.11% up, Nasdaq 2.49% up and S&P 2.58% up. In Asia however Nikkei has begun session in red - and dropped deeper red - presently at 3.75% down.

30 Oct 08: It was a white candle - so what if the body was just about 12 points big. Well we can say that it was a Doji. More of it when we see candles a little later. Are the bear giving up? They should after the way they have battered the bulls recently. Are bulls still alive? No way - like so many people are saying and expecting - do not buy this as a bull story. All recoveries - to whatever levels are still likely to be just false and the falls back will be more vicious. The suggestion now-a-days is simple - you have a profit in your pocket - get out and sit to a side and watch the action. If you are not a compulsive trader then the fun is to remain on the sidelines and seize opportunity if you get one. Whatever anyone may say - we should move up from these levels and it should be so because - we are here at these levels that are not really justified. Markets may have a mind of their own - but it is difficult to believe them at the moment. All the same - we may visit these levels in future - after all now everyone is naming this as bear times. All the same the rally now - for whatever it is likely to be worth it will run for some time - so being in a hurry will not be a virtue either way.

The world markets are doing pretty well as we remain closed. I am sure that by the time we are ready to open tomorrow - the tides will definitely turn. Asia opened flat and continued a steady climb ending at the best levels of the day. Nikkei was up 9.96%, Hang Seng ended 12.82% up and Strati Times was up by 7.82%. Europe too opened flat - dipped down and then climbed well into the comfortable green territory. The US opened and the AmEx job cut of 10% weighed down heavy on both the Europe and US. Europe stared going down lower and at the moment FTSE is just 1.13% in green, Dax is 3.22% in green and Cac is already in red down 0.65%. The markets are seeming like stablising though. Hope they end in green only. In US two news are playing their role - first was the job cut of 7000 by AmEx - the second is GDP report that says that the economy is contracting at a rate lower than expected. All the same US opened comfortably in green and has ever since been going down. We are just short of the mid session are presently down - from a start in green - the US is now howering around the flat line. There is a strong possibility that the ending is green - but markets are just unpredictable now-a-days.

Well on the candles as I have already mentioned. The candle is a Doji - well it does not make too much sense since we hardly had a trend it is trying to change. I would rather clasify it as confusion and utter confusion alone where neither bulls or bears have charge of the situation. Well as far as the Bollinger bands are concerned the width has not varied - so do not see a change in overall direction anytime soon.
The Divergence between the red and blue line has reduced somewhat - but the red line continues to trail below the blue line. The volumes were good. The Bollinger band divergence has reduced but red line is still below the blue line, Mass index line is still above 26. RSI remains in oversold territory. SlowStochastic red line is above the blue and both above the 20 marker heading towards the 50 marker. The TRIX still looks down. SO that is all that there is.

A fuel price cut on the cards? - it should ordinarily go a long way to take us into some sort of recovery. Waiting.. waiting... waiting...

Inspite of US looking down at the moment I feel that they may close in green and we may have a kick start of a good session. Best of luck to everyone.