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


Monday, 6 June 2016

6 Jun 2016 - EOD

Not surprising the rise to a higher high since April.  This was expected and would see the weekly chart we are watching fulfill our expectation of a negative divergence on a longer term time-frame.  Because of volatility, I would not expect the ST react fast enough on a CIT.  Therefore, one must exercise caution when trading the downside, and make sure an exit is in place.  Perhaps a 5th of C has topped and a 3rd wave to begin, or a b-wave top has ended and c-wave retracement to perhaps 1920 is starting.  Either way, I am expecting a pull back and that is the important take from all these EW options.

SEN: Bullish
R: NA (Upside Bias)

1 comment:

  1. Can you please post a weekly chart that you have been following. THANKS