23 Apr 2014

Unfortunately, the downtrend today was not strong enough to make any change to our ST.  Hopefully tomorrow will tell a different story.  But by the way we are going, the behaviour of price action does not suggest that a trend change is at hand.  What we need is acceleration / impulsiveness which we are not getting.  If this is true then the lowest possible low would be in the 1865- 60 range.  At this level if we still have not seen an impulsive move and a break of those values I suggested, then we would be looking for a rally higher and possibly higher highs.

MT: DOWN
ST: UP
PA: NA