Aug 22, 2013

Short term update

Now the charts have the right look for a short term bottom - NYMO divergence, the histogram turned up. On SP500 we see several day of deceleration, the price has inertia like everything in the nature and if you look at the daily chart you will see how it tries to take the turn:) Another interesting point is how the last four days are struggling with MA50. The bulls need to move the price above it, than we will have confirmation for a short term bottom.

10 min chart look at the resistance... at this level is MA50 on the daily. I think we have short term bottom and one of the scenario bellow will play out - green move above resistance and retest, or red inverse H&S.

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