Apr 23, 2013

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.


  1. krasi, did your system issued a buy signal today?

    1. Yes!!!
      My plan is to wait for a day or two and see what happens. I do not trust this move. Compare the previous spike up on the charts - the new high. The indicators look exactly like before the top. The histogram on the hourly start moving lower short before the top and MACD on the 15 min chart broke its trend line. So I will wait to see what we have - a pause for a day or two or reversal. Line in the sand 1565.