By the way shorting now wouldnt be the best idea, days like today is when you start to add small positions on the long side, so many people get this wrong, I am sure there are people jumping into short positions and buying short etfs, do not do that, that was suppose to happen last week when the markets were 3% higher.
Market Outlook
- Thread starter GrandSupercycle
- Start date
Equity bounce scenario [counter trend] is possible and USDX is very overbought after yesterday.
As mentioned since August, Gold/Silver is overextended and significant correction expected. Daily chart downtrend strengthens.
Chart at blog.
[PS PREVIOUS FX POST REFERS TO DAILY/WEEKLY TRENDS]
As mentioned since August, Gold/Silver is overextended and significant correction expected. Daily chart downtrend strengthens.
Chart at blog.
[PS PREVIOUS FX POST REFERS TO DAILY/WEEKLY TRENDS]
S&P500 bearish daily chart strengthens.
USD bullish daily chart strengthens.
USD bullish daily chart strengthens.
As mentioned since July and August - Gold/Silver is overextended and
significant correction expected. Daily chart downtrend strengthens.
<a href="http://stockmarket618.files.wordpress.com/2011/07/2011-07-15_xauusd_dy_x.png">GOLD daily chart 15 July 2011</a>
significant correction expected. Daily chart downtrend strengthens.
<a href="http://stockmarket618.files.wordpress.com/2011/07/2011-07-15_xauusd_dy_x.png">GOLD daily chart 15 July 2011</a>
Equity buy support returns, resulting in more intra day sideways chop.
More frequent updates at blog.
More frequent updates at blog.
Yep, back to the basing scenario from last week for a stock bounce.
Buyers and sellers battle continues and SP500 intra reverts to bearish chop.
SP500 intra day maintains bullish chop.
