KCPO - Are The Bulls Taking A Nap Before Charging Again ?-4/23/2012





 
The market hardly move down much last week and I notice that the band begins to tighten, so I would tighten my stop to 3513. I would add if price goes below 3455.


 

The weekly chart price maintains above the top band with a positive MACD that is been solidly supported by the rising ADX. With these, I would remain bullish about the market. The question to be asked about this market would be:- when will the bulls resume the run or will the market take a breather and stay sideway ? Looking at the falling daily ADX, I would think that it should be stay sideway for a while before the bulls return.