13 Apr 2015 - Good Reversal But Is This It?

If prices today opened just above last weeks close and closed today under last weeks low we could have had a good case for a reversal or at least a stronger case.  Today saw us just open below and close above last weeks price open and close.  Call it an inside day rather than an engulfing one.  The ST has not changed its sentiment, but I gather it would be upon us soon with todays push lower.  The only way to negate the ST from changing direction is if the price pushes back up tomorrow.  Look for either a 5 wave move up tomorrow or a 3 wave move.  This would tell you if the rally is impulsive or corrective.  This should also set you up for a confident and structured trade.  The intra-day level has turned bearish and down trending.  Therefore with this scenario, the signals should not enter OS for Bulls and OB for Bears.

MT: DOWN
ST: UP
PA: NA