Even if we see new highs I do not think that the bigger picture will change and the next bigger move should be lower. Why? Because the momentum on the weekly charts points lower, MACD daily chart divergence, market breadth indicators divergences.
Apr 24, 2013
Short term update
It still could be a lower high but we should see red day tomorrow and the trend line and support should be busted in the next day or two. If this does not happen the overbought conditions will be worked out and we will see something like on the chart bellow.
Even if we see new highs I do not think that the bigger picture will change and the next bigger move should be lower. Why? Because the momentum on the weekly charts points lower, MACD daily chart divergence, market breadth indicators divergences.
Even if we see new highs I do not think that the bigger picture will change and the next bigger move should be lower. Why? Because the momentum on the weekly charts points lower, MACD daily chart divergence, market breadth indicators divergences.
Subscribe to:
Post Comments (Atom)
Enjoy your much deserved vacation Krasi. Really appreciate your daily postings and hope you will continue to post short and long signals from your trading system. Take care now.
ReplyDeleteThanks!!!
ReplyDeleteI really need to take some time off... too much work and I do not have the energy to pay enough attention to the markets and trading.
From mid June I will have time and will try to improve my trading and the signals which I post... now it is a mess:) Analysis are ok but we must be able to benefit from them.
I will organize myself much better, I promise:)