DOW opens up then moves back slightly - FTSE down from highs of the day.
Energy, gold, brokers, home builders all up. The FED 2-day meeting starts tomorrow and the statement will be important. Markets need to see that the FED may be softening its stance re. interet rates, i.e. they need to imply htye may consider lowering rates. There are still people wanting the 10% correction although they still think a 6.5% increase in the S&P is likely this year, which means up 8% from current prices. Others see volatility continuing for next 2 - 3 weeks as a good buying opportunity.
At the moment the markets are falling back from their highs DOW up 56 FTSE up 12 - well off highs. I was going to pick up some III again, but I think I'll wait.
Another good site for candlestick chart information - they even give recommendations and show their track record (good so they say - 90% success rate) is British Bulls - it's free, just type in the 3-letter code to get their candlestick analysis.
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