Market Outlook MID for Sep 18th '07

Dominant TF: 60mins
Swings: DN-UP-DN
Market direction: undetermined.

60mins:
The recovery stopped a couple of days ago on Fib PR2 (61.8%) and MID is now mildly pointing down. AdStoK is around the median zone with a negative gradient. Entropy is now also definitely negative.
After the Fed announcement today, it can certainly go both ways, but there is still a neutral to negative bias ahead of the news.

Daily:
Would there be no imminent news, the most likely scenario ahead would be congestion or trading range, with a negative bias (white line separation and negative entropy).
Possible range: 843 to 875, then 812 on the down side, for 906 on the up side.

Weekly:
No clear direction ahead of the Fed announcement. Note that there may be 2 opposite Fib patterns. The first one drawn manually gives price targets close to 800 then 750. The one calculated automatically on the contrary gives 800 then 930. We should know soon enough...