“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC


Friday, 20 September 2013

20 Sept 2013

Our intra-day indicator has entered oversold in a very short period of time.  I am expecting a rally next week and we should watch to see if the intra-day signal resets to the top side without making a higher high.  EW patterns are hard to tell but many will count this as an ABC pattern down and will be looking for new highs.

Main-Trend: UP
Short-Term: DOWN

1 comment:

  1. Hi MP.

    I am glad you mentioned an A-B-C pattern as this is my thinking as well, but on a daily basis. Potentially, A will be the Nov.5 low, B the Jan. 15,2014 high and C ... look out below. Do you agree?