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


Friday, 25 October 2013

25 Oct 2013

It seems the continued correction that I was looking for did not come and we have to admit when we are wrong.  That said, we are in an overbought condition both in an intra-day level and at a short-term level.  Perhaps we are still in a corrective mode, but we have expanded our correction to surpass the previous highs.  We will see by next week...

Main-Trend: UP
Short-Term: UP

The next resistance to watch is at the upper angle where it touched the previous high.

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