11 Nov 2014 - CURRENT MARKET

So far the prices looked to be waning and curling over.  But we are still in OB territory so we must at least let it come out of it before we can try to see a short opportunity.  One thing to note is that the daily 200ma is moving higher day by day, and at this rate any correction in prices would have a high probability of retracing down to the 1920 - 1930 level.  My reason behind it is that based on the current analysis and given that prices won't just drop from here.  I speculate that the 200 daily MA, and the Fib. 50% line on the 60min chart will meet each other.  The other not so bearish retracement would be the 38.2% which currently is hosting the 75MA of the 60min chart.  These two are more likely, but not the only available level to watch as the 61.8% is also hosting the "Price Gap".  Again this is speculation, and I would not act on the analysis until I have at least an ST to back up my targets.

MT: UP
ST: UP
PA: NA

Mid-day analysis:

So far the market has been behaving or sporting similar indications of a top that was also made in 2007.  Will we get the same?  Just some info to think about...