For today's trading, now ended, the high and the closing prices are above the upper resistance line of the short-term triangle. But I'm sure even the most optimistic, bullish trader will forgive me for describing that final candlestick as less than enthusiastic. It's not a doji, that much can be said for it, but it's not a big, strong weightlifting candle, either.
I still view this chart as able to break either way, up or down. And it's still dependent upon the Fed's final decision, due tomorrow.
That's… going to be an interesting trading day. For some active traders, it's gonna be like that ancient Chinese curse: "May you live in interesting times." Again, full disclosure — I am not currently actively trading in any market. This is purely sideline kibbitzing.
How about some author and ebook news, for a change, instead of politics? Here's Professor Glenn Reynolds of the University of Tennessee's law school, our very own Instapundit:
Change: Nearly half of all e-book sales dollars now going to self-published authors.
Now that's change we can believe in. Here's a direct link to the article Prof Reynolds is highlighting and discussing. From the website Author Earnings:
September 2015 Author Earnings Report: AAP Reports Own Shrinking Market Share, Media Mistakes It for Flat US Ebook Market
As both an author and publisher, I'm not certain where my little micropress falls within that repeating chart. Dingbat Publishing does publish books by other authors; our stable currently has a dozen stalls, even if two of them are me and my alter ego. We are a royalty paying press and assign ISBN numbers to our books. So does that make us part of the so-called "red zone," the Non-AAP Reported Traditionally Published, or the light blue, ISBN-Bearing Indie Books?
Either way, they say we did pretty well last month. Glad to hear it.
And just so I can tag this post as political, here's Legal Insurrection's Kemberlee Kaye:
Government Cracks Down on Little Free Libraries
To steal and paraphrase a meme, what would we do without experts and governments?
Thanks for stopping by. Cheers and happy reading. Traders, stock up on industrial-strength Maalox for tomorrow.