FKLI - Blame It On The American Government's Shutdown - 10/7/2013

The falling ADX has now reached 15's level. An undisputed confirmation that this market is now in a listless mode. Prices have been sideway for the past 7 trading days. The Bollinger Band has begun to tighten. The Stochastic continues to fall but the MACD is not so clear as though it is negative, but it is not pointing downward but instead moving sideway.
If you had entered short trade last week, I would suggest you should take profit whenever possible because the abovementioned conditions are going to render any trade unprofitable.


The weekly chart is also of contradictions as the Stochastic continues to rise  but the MACD stays negative and is actually pointing sideway. Price is same as that of the daily chart which has been sideway for the past 3 weeks. The Bollinger Band is also tightening. The DMI is positive but it is also wiggling with the ADX continues to fall. And it has now reached 20's level. All these added together and confirming that the market is listless.
Our market always like to follow what is happening in other country before going into a new direction. But it is NOT always whatever happens elsewhere will have a consequence on our market. At present, the excuse , of course is about the American government's shutting down. Sometime I think our people are really more naive than we would want to admit.