3 Sept 2013

The markets reacted positively today but gave much of the gains away.  The end of day created a reversal candle on the daily chart but the sentiments has changed to UP-TREND short-term.  One thing to note though is that we are still oversold on the short-term indicator and we could possibly stay oversold with prices accelerating down.. therefore we should be careful of any long position.  Todays price action where prices were not able to hold up can be considered weak and the bearish sentiments are still the stronger trend.

Main-Trend: DOWN
Short-Term: UP