30 Jul 2015 - MT Almost Turning Up

The Medium Term trend is at risk of turning up and needs to reverse sooner than later if the bears think that the top is in.  If it does not stay on a down trend, there will be risk of a few weeks of positive moves.  The ST however has not turned down and this needs to push lower to save the bearish MT.

Going down to the intra-day level, there seems to be a short term bearish signal but do caution that the signal line is still in OB range with an ST still in Bullish trend.  If the intra-day signals can manipulate the ST into turning down then we have a confirmation.  Watch tomorrow for signals to exit the OB in the intra-day charts or enter into its OS level.  Any of these scenarios would be needed before going short.

MT: DOWN
ST:  UP
PA: NA