Jun 25, 2013

Short term update

Good time to take profits or move the stop for short term long trades bellow 1582 - last minor low.

The move lower does not look impulsive so probably some kind of wedge/ending diagonal.
The current bounce higher is corrective too. I do not know if it will move higher, make some zig-zag or the sell off will resume.
I know that it is weak and the lows will be revisited some day.
I know that 1582 is the last minor low and move bellow will switch the short term signal to down again.
The market needs a pause for 2-3 days so my bet is the zig-zag the small red lines before resume of the sell off.

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