The Bears are not dead yet. Why? Because the Medium-term trend is still open to the downside. But time is running out for the bears again.
Mid-Term: Down
Short-Term: UP
Thursday, 25 April 2013
25 Apr 2013
SPX 60min stayed overbought for the whole day. Therefore no reversal till end of day when it did push down out of overbought. Best count for this up move looks like a 5wave pattern in EW. Which could only mean higher highs breaking the previous high on the 11th of Apr. Which brings us back to our target of 1600 -1622 range in the SPX.
The Bears are not dead yet. Why? Because the Medium-term trend is still open to the downside. But time is running out for the bears again.
Mid-Term: Down
Short-Term: UP
The Bears are not dead yet. Why? Because the Medium-term trend is still open to the downside. But time is running out for the bears again.
Mid-Term: Down
Short-Term: UP
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment