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

PAYPAL

Thursday 31 October 2013

31 Oct 2013

Happy Halloween!!!  We have continued the momentum lower for markets, but it is still not quite clear as to whether this is a corrective move down or a sustainable down trend.  The clue is on our indicator to reset and make a lower high.  The best timeframe to see this of course is on the 60min chart.

Main-Trend: UP
Short-Term: DOWN

Since tomorrow is a reactionary day we could expect an acceleration of sorts. But we should still follow our indicated trend (Short-Term).

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