Sep 25, 2014

Update

We knew we have a short term top, we saw an impulse as expected with perfect proportions, the last wave lower touched support and almost MA50 on the daily chart and reversed... that was the easy part what we knew.
Now it is decision time..... I do not see an edge using any technique and I do not have an answer.
Either sp500 have finished flat and a move higher should start or we have more to the downside.
If the indexes want to move higher should print another strong candle after the bullish one from yesterday.
If the indexes want to move lower should reverse soon small body candle and a little bit higher is allowed. I prefer to see more to the downside... but the market will decide:)
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2 comments:

  1. kkandruSep 25, 2014, 10:43:00 AM

    If SPX needs to continue bull run, it needs strength first, so retrace is a must to 1940 level , my take on it.

    Thx

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    Replies
    1. KrasiSep 25, 2014, 11:12:00 AM

      I am on the same wave, that is why I wrote "I prefer to see more on the downside"....
      Lets see now if the market is "on our wave":)

      Delete

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