Based on the action today this looks like the typical moves up and down just before a big move in one direction. They clear out both the bulls and bears stops commonly before they make that big move. So we should see some clear direction next week.
Which way is anyone’s guess of course, but I’d think it would be down. But, you never know if they don’t secretly put some money into the market to trick everyone and push it up higher still. I’d say it’s best to wait until Tuesday to see what the real direction is.
While the charts are bearish on the big picture the smaller picture doesn’t have any clear signals that I can read. Sideways trading for 2-3 weeks just makes the shorter term charts flatten out… which means you can’t read them. So, waiting on the sidelines seems to be the safe position for now.
According to the local classic radio guy, 22 days until the END of SUMMER and then
http://www.facebook.com/photo.php?fbid=402711896444298&set=a.402695899779231.84748.374257285956426&type=3&theater
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You lost me on this one?
some kind of manipulation signal
Why 12860?
possible long at dow 12860
Gold hits golden ratio:
http://niftychartsandpatterns.blogspot.in/2012/09/gold-hits-golden-ratio.html
APPLE Hour chart update:
http://niftychartsandpatterns.blogspot.in/2012/08/apple-hour-chart-update.html
Based on the action today this looks like the typical moves up and down just before a big move in one direction. They clear out both the bulls and bears stops commonly before they make that big move. So we should see some clear direction next week.
Which way is anyone’s guess of course, but I’d think it would be down. But, you never know if they don’t secretly put some money into the market to trick everyone and push it up higher still. I’d say it’s best to wait until Tuesday to see what the real direction is.
While the charts are bearish on the big picture the smaller picture doesn’t have any clear signals that I can read. Sideways trading for 2-3 weeks just makes the shorter term charts flatten out… which means you can’t read them. So, waiting on the sidelines seems to be the safe position for now.
Silver going to the moon
and the downtrend soon begins