Still trading in range

Hi guys! After another long absence I am back. The reason for my absence is the same as last time , my poor health. I didn't feel good in the last 4-5 weeks but thanks God now I am a little bit better. I am out of the market not only because is trading in range but also because I can't afford to take any risk since my medical bill is killing me.

So, looking at the charts not too much happened in the last 4-5 weeks. When I left the market was around 1215 and today is around 1200. Of course it swung up and down meantime but overall it did not move.

Long term remains bearish in my opinion. EMA 20 has crossed EMA 40 by a lot on weekly chart and market is still bellow SMA 75 after a 10 points jump over this moving average on Friday. This was a pretty surprising move keeping in mind that once crossed on the downside SMA75 functions as a very good resistance level.

Another bearish sign is that SMA 200 (SMA40 on weekly chart) is pointing down for the first time since February-March 2008.I don't make a big deal when SMA 200 is crossed but when it changes direction I pay attention.

The only positive piece of data comes from the daily chart that shows daily DMI turning positive after staying in the negative territory since the end of July.

All the best!

babaro