Jul 29, 2015


The market stretching lower to the maximum, oversold indicators, you are thinking maybe I am wrong... I even took out "the bear suit" from the closet and prepared bearish chart for the DAX(which I am trading) I do not want to get caught with the pants down. And than it reverses with strong move:) I still want to be sure and I want to see a confirmation - higher low, but the bullish scenario looks now more probable.

The chart updated - as I wrote the weekend we should see a bottoming and higher low around FOMC and full moon which usually mark a reversal, this is the bullish case.
With the strong move yesterday which retraced 50% the bearish scenario looks now less probable. The bears really need one more lower low for an impulse or it is just a correction a-b-c with only three waves lower and oversold indicators.
The same for the DAX it should stay above 11000 for only 3 waves lower.

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