14 Oct 2013

We broke our down trending angle with conviction today. It seemed we were headed for a negative day by the open of the session, but markets seemed to have fooled most again today.  We do have a 60min divergence happening here and I have not seen a significant corrective move for some sort of 2nd wave EW pattern, but as our indicator have shown, we are still in a upward mode.  The key now here is the 1730 high made on Sept.  This needs to be taken out or we will have a lower high if our momentum turns down.

Main-Trend: DOWN
Short-Term: UP