CPO 3/3/09 - Explsoive move to come too?

This market is another tough cookie. Like I noted last week - the trend is gone and all we have a listless market. The daily ADX has turned flat again and stucked at the 20's level for days. Again we would concentrate on the Stochastic for any new signal. I would only treat the new signal as a minor one. As for the position traders, do nothing for the while now.

I have drawn out 2 horizontal lines to mark out the range. I will only get serious once we see a breakout.

The weekly chart is showing us all the classical trendless signs:- the Bollinger Band's squeezes; the D+ and D- are wriggling each other in and out and a fast falling ADX. With price is still manage to stay above the upper Bollinger Band and both the MACD and Stochastic still positive and rising, so I remain cautiously bullish on this market too. But at this moment I would just wait.

Like KLOFFE, whatever CPO does next will be explosive.