15 Aug 2014

There are boundless worth of reversal candles on the dailies.  It does not say much but the impulsive manner of the drop has reared volatility's ugly head.  ST still staying positive, but that could all change Monday when markets open.  The impulsive nature on Friday along with the corrective count and the retracement level leaves the bears optimistic that Monday will bring some red to the market.  If so, then we should watch again for the ST to turn bearish with an more pronounced and impulsive move lower.  Blame it on Ukraine, but the numbers released last week never really made any dent on the markets.  There will always be an excuse as to how / why the markets move the way they did.  So they say...

MT: DOWN
ST: UP
PA: DOWN