Jun 13, 2013

Short term update

UPDATE: I think this could be classified as a huge green bar so the red scenario bellow is winning the battle.

The futures plunged to the previous low 1598 but the index has recovered currently 15min before the open. I think that can change the plan, I will post charts later....

The Index has recovered and the move on the chart which I have posted yesterday is playing out. The chart of the cash index looks normal an the forecasted move higher looks possible and in tact. The futures(my charts CFD) made nice double bottom but no divergence. On the other side the DAX look bad. The DAX gaped bellow support and MA50 and the chart tells me the middle section before the beginning of the significant part of the correction is over. This will fit with the oversold indicators and the signs that we are nearing intermediate term bottom.
The green scenario fits more to DAX and the red one more to SP500. I must says that I am confused, usually the indexes move synchronously....
Huge green bar will mean the red scenario, not convincing move higher for a day or two will mean the green scenario

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