Jul 11, 2014
The two faces of the market
Two charts short term optimistic, but intermediate term and probably long term it does not look good.
I think the charts show the two faces of the market - it makes higher lows and higher highs no real corrections the dips are been bought creating an illusion for a strong market, but the second chart is telling a story for a weak and tired market.
P.S. I could be wrong for the last final wave so it is really time to prepare if the markets turn lower. Now or in two weeks... it is better to prepare now as to be surprised.
Short term if I am right we saw rare running flat and wave 5 begun.... target the so much expected 2000. Yeaaaaah the next dip to buy... not so fast look the next chart.
Look at now the longer term and DJ... that is not a strong market it is ~330 points or 2% higher for the year. No more strong rallys just crawling higher and the corrections are missing creating the illusion for a strong bull market. This is not a strong market this is a weak and tired market.
If the price moves bellow the wedge trend line, support and MA50 it is game over.
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Yup yup.. can't agree more..
ReplyDeleteStill holding the long position from yesterday's "buy-in-dip", but with a SL around 1959~1960....... already tighten my seat-belt :-)
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