Apr 22, 2014


It looks like the bulls won the short term battle... now I expect pullback after 6 green days. The bulls should prove that they control the situation. Any move lower should be corrective and stay above 1850 (support / 50% retracement / MA50 daily chart). The pullback could be more shallow of course.
The red scenario has now low probability I will have it on my a radar for a while.
Another very important lesson this week - as I wrote "bullish until proven wrong". It does not matter what my preferred scenario is or looks better:) the market has the last word.