Short term update

UPDATE: End of the day - this mini flash crash has even broke the trend line on the chart bellow and the high is being tested. At this point this "crash" probably should be ignored, difficult to say. The last several moves reversed on no signs no divergence nothing... predictions are difficult. Short term the price on the hourly chart is too far from EMA50 and momentum is reversing. Two options pause for a day or two and up or reversal again. The bigger picture - I still think that the next bigger move will be lower. The problem is we can even see higher highs. Until than all bears will be killed and I will shoot my self... again:)


Multi day rebound, target reached as expected... soon will know if this is only a corrective move.

UPDATE: Noon - It does not look good for the bears at the moment... no weakness. If the direction is down we should see weakness in the afternoon session, something like on the chart. If the indexes just burn time moving sideways the direction is up again at least for this week.