20091008 0940 Dow Jones Daily Chart Study. A Doji Day !

Dow Jones ended marginally lower to close at 9725.58 forming a doji candle last night. A doji means market are uncertain about which direction to go. Chart wise, price still close above mid Bollinger Band = upside biased.  Bollinger Band width narrowed after price failed to close higher suggesting a sideway range bound market. MACD histrogram continue to rise = buyer still rule in a smaller majority. It is better to stay sideline to wait for new direction before going into the market.