Daily Directional Forecast:

Mohan's Market Force Daily Directional Forecast
by Mohan

September 23, 2009

Due to FOMC "interest rate announcement" at 2:15 est there will be no Directional Forecast today. Also no Intra Day Swing Trades recommended.

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Recap of Tuesday's Action:

Good morning and thank you for joining with us today.

Today is the FOMC "interest rate announcement" session at 2:15 est and we do not offer a Directional Forecast on these sessions.

On Tuesday our Directional Forecast called for higher prices which is what we got although the bounce was not as strong as expected.

Overall the trade was choppy and rather trendless although the pressure was to the upside as expected.

Our Intra Day Swing Trade showed a clear Buy on the B/D with prices rebounding off the lows under 1062.00 for a bounce back higher for an up to +7.00 gain.

An interesting thought: It was about a decade ago on April 6, 1998 when the Dow first crossed 9000.00 Here we are 10 years later and the Dow is just barely above 9000 today. Something to keep in mind and give us perspective in our efforts to make stronger returns doing the work we do to catch our Intra Day Swing Trades.

Have a good day and I'll look forward to updating you for tommorrow's action.

All the best, Mohan

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