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


Thursday, 3 October 2013

3 Oct 2013

Todays price action made new lows and is what the bears wanted to see.  Although we saw a rally by mid day, the most important thing to take from all of this is that we have seen a lower low in the SPX.  Our short term signal has moved to an UP position even though we have a negative day.  This could be a signal of a diverging pattern happening.  Current lows on the SPX is at a 61.8% retracement.

Main-Trend: DOWN (Unconfirmed)
Short-Term: UP

Our Intra-day signal is on the buy position so we might still see a continued rally...

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