Apr 18, 2011

Short term update

The indicators and market breadth indicators has shown the right direction.... again:)
The correction is not over. This sell off, more than 200 points, makes more probable correction to at least the 50% retracement level.

P.S. Look at how the sell off stopped just shy of the support line and the lower line of the channel has been touched for the fourth time... I love TA:)

Apr 17, 2011

Weekly review / Седмичен преглед

Clueless right now!!! There is to many options.
The Histogram on the weekly and the daily charts still points down so the next move should be the next leg down in this correction.
But looking at the second chart(SP500) we could already made the lows for this correction hitting 38,2% retracement.

Apr 10, 2011

Weekly review / Седмичен преглед

Boring week... nothing happened.
Primary scenario has not changed. Momentum indicators show some bearish signs. We kann see a pull back starting next week.

Alternate scenario