Jun 21, 2012

Short term update

UPDATE: Now it's official 1330 has been broken and the pullback has began:) And with this kind of action a retrace to the lower wedge boundary is history too. A pause on Friday and more selling on Monday.
Short term moves have played out very nice:) I think the pullback has began. The line in the sand is the support at ~1330.
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4 comments:

  1. deutsch english übersetzungJun 22, 2012, 6:53:00 AM

    I completely agree with you.
    Thing we are facing something uggly.

    Goldman was also out yesterday stating that it is time to blank the market!

    ReplyDelete
    Replies
    1. KrasiJun 22, 2012, 7:15:00 PM

      "Thing we are facing something ugly." - Yes I think the prices will move lower very fast for 2-3 weeks and many will be scared just before a reversal and an intermediate term bottom. Usually in July we have an important bottom so this an opportunity too:)

      Delete
  2. AnonymousJun 22, 2012, 10:57:00 AM

    one more closing low in play for Tom De Mark's 13 count?

    ReplyDelete
    Replies
    1. KrasiJun 22, 2012, 7:02:00 PM

      if you mean lower low bellow the one from June 4-th to finish Tom De Mark's 13 count - yes I think this is what will happen.

      Delete

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