Web Statistics fiscal cliff - how to trade the fiscal cliff news

Tuesday 13 November 2012

fiscal cliff - how to trade the fiscal cliff news

fiscal cliff news is all the talk of the town, yet no matter what fiscal cliff news is coming, traders are still not looking at their charts.

The bulls were not able to print a higher high today compared to last Friday. I am kind of sounding like a broken record, lol, but until this happens the bears remain in control and caution should be exercised.

fiscal cliff
fiscal cliff news

I have been warning to watch the leader "The NASDAQ" in the next few days. I saw many other pundits get excited about a bounce in early trading, however it did not last, and traders who were long got caught yet again!

Fiscal Cliff this! LOL



Look at the nasdaq chart below. I was not surprised to see fresh lows get hit today, as I cannot see any strong buy signals at the moment, even though there were lots of traders screaming to get long. So we watch and we wait. 

fiscal cliff


There is lots of news tomorrow FOMC news minutes. Sentiment is still bearish for now. These markets do not seems like they are settled yet, and there are lots of talk about about Obama and this fiscal cliff and whether there will be some sort of decisions made, but one thing I do know is that no matter the fiscal cliff news these markets are still quite unstable. 



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