KCPO:- Possible A Short Term Up But Remain Cautious - 9/6/2010

I bought in again on last Thursday as price went back above lower Bollinger Band and the Stochastic crossed up above the 20's signal line. The MACD though started to turn but it still remain negative. I am placing my stop at 2528.

The daily ADX continues to fall, it is almost reaching the 20's. The market may be going into a sideway move. So I am drawing 2 horizontal lines to mark out its recent range to see how the market goes.

The weekly chart remains unsure as the previous week's . The Stochastic is negative and falling but the MACD remains positive. The ADX has turned flat for 2nd week and prices stay within the band, all are telling us the market is caught in a sideway situation.

As mentioned last week, with the triple tops and bearish divergence at MACD, I remain extremely cautious for a possible big bear to appear. I am keeping an eye of a possibility that the Stochastic crossing down its 50's signal line or the MACD crosses down its zero signal line, both could signal the big bear baring its craws.