Slow Motion Turn Around in Market Direction :eek: .
Technical indicators point to a down move soon.
RSI divergences and falls from 70%
MACD cuts trigger line DOWN.
Multiple Handman and Shooting Star Candle Sticks.
Death cross usually signifies the end of the down move.
Bullish cross may...
Better late than never :D .
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Quote from mu200411:05-13-10 11:19 AM
Gold $1243
Gold $1300 and $1400 are within reached .
Can USD/EUR go UP to 0.82 .
Mup = Long time, no see :eek: .
Reverse Head and Shoulders pattern confirmed.
Near double measured moves and resistance.
Is this another BULL Trap :confused: .
The Market has been in trading range for 4-5 months.
Next week the Market may find some direction.
UP according to the reverse Head and Shoulders :confused: .
DOWN according to the Head and Shoulders :confused: :mad: .
4 Heads and 8 Shoulders :D .
Mr. Market is choosing between normal and reverse ones.
Bullish short term fractals.
May be a measured move UP to SPX 1155,
or a stall at the neckline SPX 1130 :confused: .
Ugly Longterm Fractals :eek: .
{2000's & 2008's & 2010's Tops} = {July 2007's & Oct 2007's & May 2008's Tops}
If they are predictive :confused:,
we have 50% to go.....
DOWN from March 2010 high :mad: .
The charts are somewhat confusing :confused: .
That is what the Markets do.
We get another Fractals, which predicts another BEAR Trap :eek: .
The reverse Head and Shoulders scenario is the most bullish.
Two scenarios of Triangle will produce more BEAR and BULL Traps.
The move to below SPX...
Multiple BUY Signals: MACD, RSI, Higher High, Trendline Break, 50-DMA breack, etc.
Multpile Resistances: Resistance Trendline, 100-DMA, Shoulders' level.
May turn out to be a Triangle, with no lower low.
The red lines were good SELL Signals :cool: .
The blue line was a BULL Trap :mad: .
Our small 5-waves was a wave five failure.
Yesterday low may be Wave 2]c)3.1 instead of Wave 2]c)3.5 :confused: .
Today looks like an Ending Diagonal to me :) .
There may be three more 5-waves DOWN :D ...
There were two 5-waves DOWN to SPX 1040 as expected :cool: .
There may one more small 5-waves DOWN and another big 5-waves DOWN before the end of Wave 2]c) :confused: .
A Shooting Star after a Hammer :confused: .
The fourth (reverse) Head and Shoulders pattern :eek:
If this fails, the bigger reverse Head and Shoulder pattern may fail too :cool: .