Sep 3, 2011

Weekly review / Седмичен преглед

The forecast from the last week nailed the moves as time and price so I am sticking to my plan and it is marginal new low 1080-1100 in the next two to three weeks.

My 2 cents - move higher to resistance 1200-1205 reseting the 60min Histogram before continuing lower. Why? - SP500 is at support level(see the chart above too),low volume on Friday after strong bearish day, MACD divergence on the 15 min chart, the histogram on the 60 min chart trying to turn UP.
Short term forecast are always tricky. Lets see the open after the holidays. Overall its not clever to short at support and I think we will see a better level to get short.

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