10 Jun 2016 - EOD, EOW

Yesterday, I spoke of the need for price to push lower for the negative divergence in the weekly to survive.  Being able to study behaviours like this allows us to see the potential move before it happens.  Of course there is also the what if scenarios.  This blog is not all about speculation and high risk, therefore we make a case with solid confirmation.

The combination of the weekly negative divergence and a reversal candle reduces the risk to the short side.  Couple this with the ST that turned down with an OS intra-chart, we could say the bears are in a good spot.  The (Reset) however did not materialize, and resulted in a negative pull-back.  This is the reason why we should all be flexible with our analysis and follow the trend as yesterdays trend in the ST was UP.  Regardless, a small loss if adjusted by EOD today.  We should now look for a reset bias to the downside to SYNC with our ST which turned down today.

SEN: Bullish
ST: DOWN
PA: DOWN
R: NA

Target to look at currently is the 2044 area then down to 2020 range.