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


Wednesday, 11 February 2015

11 Feb 2015 - Nowhere Near OS..

Any acceleration down was not apparent today since indicators are nowhere near the OS range.  The 5min was the only one pushing for a move lower and alone was not able to do it.  Higher high prices today do not negate the corrective count we have or the longer term bearish count until the highs made in Dec. 2014 is surpassed.  Today was considered a cycle signal, but has not shown any indication whether its up or down.  We may see it tomorrow.. One thing sticking out to us is the neg. divergence in the 60min chart. 

Clues tomorrow to watch is a 60min cross down with a move into OS will increase chance of a accel. downward (low risk short entry perhaps).


No comments:

Post a Comment