The movements you have seen from then are called holiday reversals, and most likely to reverse back when we come back from the holidays in a few days time.
The bears right now will be rejoicing, but as we have said this is just thin trading on the market, where by not many participants are watching and trading.
Our stance still remains the same. The bears have not done too much damage at all. And looking at the hourly chart, it is oversold, and telling us not to get to excited on the bearish side, as there will be some sort of a bounce coming soon.
If you have a look at the hourly chart we are very oversold. It is telling us that a bounce, or to expect a bounce soon, and again I keep using the phrase. DO NOT FALL IN LOVE WITH THE DOWNSIDE. The breadth charts and hourly charts are confirming this.
If you have a look at the hourly chart we are very oversold. It is telling us that a bounce, or to expect a bounce soon, and again I keep using the phrase. DO NOT FALL IN LOVE WITH THE DOWNSIDE. The breadth charts and hourly charts are confirming this.
We are in thin holiday trading. It is best to not take this action into account as the smart money is totally gone from the markets, and will not return until the new year.
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