FKLI -  After The Party Reality Setting In -5/27/2013

By following my trading rules, the previous short position was closed off when price went above the top band on last Monday. No new long position was considered because the Stochastic did not confirm that buy signal as it remains negative.  The following day price went back below the top band which triggered another new sell signal and it was confirmed by the negative Stochastic and MACD. I entered a new sell on the following day when price went below the signal day low.

The ADX has stopped rising and this may mean the prior trend may has stopped, at least temporarily. Since the DMI remains positive, I would consider the current movement as a retracement.

 
The weekly chart continues to be uncertain as the Stochastic is negative and falling but the MACD remains positive and it is still rising. The DMI is positive and ADX continues to rise. The contradicting MACD and Stochastic is a classic sign of a listless market. The Japanese Candlestick is another small body candlestick which is not telling much.

Summarily , the weekly chart is telling us that it is a listless market. The daily chart is confrming a retracement in progress. I have sold the market and now placing a stop at above the top band.