FCPO - It Is Still A "Dead" Market- 3/16/2015

 

The new sell signal met the filter rule again as price went below the previous Friday low. But again it did not go far. The prior fractal low of 2216 was not breached. But the worrisome item to watch out here now is the MACD, it seems to testing its zero signal line again. If crosses below, then the previous bullish bias assumption will warrant a rethink. The Stochastic stays negative and continue to fall. The DMI also stays negative and wiggle. The ADX went even lower and flat. So it is as the previous week -  it is still a lousy market to trade.

 

The weekly chart stays more or less the same as the previous week. Both the MACD and Stochastic stay positive. The MACD stays above its zero signal line but seems losing steam as it has begun to tilt downward. The DMI continues to wiggle like a worm and the ADX continues to fall further downward. Both a classic confirmation of a "dead" market.

Market usually will stage a violent blowup or blow down after a listless market, especially the longer the listless mode go, the more violent the following move will be. So I would suggest you should keep a keen eye on the FCPO market as whatever it does next, may shock and awe.