So far our indicator is on a short term down trend and we are waiting to see if the Main-trend can be manipulated to the downside to get a stronger conviction to this current run down.
Main-Trend: UP
Short-Term: DOWN
Wednesday, 25 September 2013
25 Sept 2013
Markets were weak today as evidence that price could not even sustain a morning rally. By 12 noon prices dropped and was weaker than even the financial index. Be careful as an acceleration down might be possible. Our intra-day signals have been diverging for days but prices are just too weak and an eventual collapse of the momentum could ensue.
So far our indicator is on a short term down trend and we are waiting to see if the Main-trend can be manipulated to the downside to get a stronger conviction to this current run down.
Main-Trend: UP
Short-Term: DOWN
Note: Watch the 60min Stochastics tomorrow for a turn around. An acceleration down would keep the stochastics in oversold territory and that will not be good for the bulls.
So far our indicator is on a short term down trend and we are waiting to see if the Main-trend can be manipulated to the downside to get a stronger conviction to this current run down.
Main-Trend: UP
Short-Term: DOWN
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