31 July 2014

As I mentioned on yesterdays post, the price closing below the 200ma of the 60min chart is critical.  Now the 75ma and the 200ma is on a verge of crossing which is bearish.  If you followed our ST's down ward trending warning you would have profited handsomely, and if you had followed our PA sentiment.  You would have profited on any volatile Stocks, Options or ETF's.  It looks to me like the downward pattern has not ended yet and is missing an extra set of waves.  Let us not forget that EW is not perfect so lets watch the ST for a Short-Term trend change if there is one.  For now it is bearishly down.

MT: DOWN
ST: DOWN
PA: DOWN