As I have indicated, there is a risk of acceleration to the downside, and although we did not hold the morning lows it was still a pretty good sized drop. This could happen again..
MT: DOWN
ST: DOWN
PA: DOWN
Monday, 29 September 2014
29 Sept 2014
The ST has turned down, and as I have mentioned in my previous post, this is occurring due to volatility. The mornings gap down when seen from the futures chart (ES) shows a 3 wave decline. Therefore the rally up currently should be a corrective pattern (in 3 waves). We can label this a B wave when complete or a ii-wave. We could end the rally here but since our 60min chart stochastics is still pointing up, we should allow for the morning session to progress before calling it an end to the rally.
As I have indicated, there is a risk of acceleration to the downside, and although we did not hold the morning lows it was still a pretty good sized drop. This could happen again..
MT: DOWN
ST: DOWN
PA: DOWN
As I have indicated, there is a risk of acceleration to the downside, and although we did not hold the morning lows it was still a pretty good sized drop. This could happen again..
MT: DOWN
ST: DOWN
PA: DOWN
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