ST has its game on yet again. Yesterdays turn was right on cue with todays gap down to OS on the intra-day charts. Large losses for some, and large profit for those who follow their indicators with strict discipline. I believe that any and all indicator works based on analysis, but its the human emotions that get the best of us, and when we do not follow these signals, we fail to blame ourselves and place blame on the indicators for their short comings. They do lag, and they do produce false signals at times, but both of these eventually clear up, so we must trust them, and most of all eliminate emotions.
If the intra-day fails to come out of OS, we could still see more accelerative move lower. Therefore look for an exit or a positive divergence on the intra-day charts for a clue to a rally.
MT: UP
ST: DOWN
PA: DOWN
Yesterday, I mentioned that we "could" be forming a diagonal triangle but could see a high risk of this scenario failing due to an ST signal to the downside. This analysis is based on sound and unbiased analysis and not based on personal belief of what we think should happen.
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