Jun 29, 2010

Tuesday update

well the market has decided something different. No bounce to 10300 just plunged through the trend line to support level ~10800-10850.
Every single chart is now bearish:
- Weekly MACD below zero
- Weekly prices bellow EMA50
- Weekly histogram/stochastic pointing down
- Daily MACD curl over at the zero
- Daily histogram is pointing down and crossed below zero
- Daily triple cross

Now I am very bearish and this is the scenario with the highest probability until the market tells us something different.

BUT the prices still must close bellow support and break the third trend line.

A short-term hourly chart with bearish count.

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