Better to sit on the hands

Morning everybody,

in previous update we said that upside action back to 11K area could happen and it even has started, but after few sessions price has lost upside pace totally. Currently we see contradictive patterns among different time frames. For example - on daily, we have few bullish grabbers that still suggest return to 11-11.2K area, while on intraday we see anemic behavior and forming triangle consolidation. Besides, on other markets - FX, Gold we suspect another leg down before next bullish chance will appear.

Taking it all together we think that better choice is to do nothing and wait for the next week. Or, if you still want to do something - focus on very short-term patterns, such as "222" buy on 1H chart.

Our major setups are still valid, as price has not reached their invalidation points. But price shape on intraday charts becomes less clear and could change.