Nov 8, 2011

Short term update

UPDATE 09.11
That was fast:) I though 2-3 days hanging around before the correction... I think it has begun.

The alternate scenario is playing out...
I think there is 3 to 5 days up with max target ~1310 (it could be lower high too) followed by a correction to the support zone ~1190 till end of November early December. The move does not look impulsive, even it shoots up that will be an exhaustion - take profits and/or sell short.
That is my daily chart with Hurst cycles shown. When the trend line is broken that means the bigger cycle will begin moving lower.

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