There is a lot of bearish sentiment and as such has shown up on the charts for easy analysis to place your bets on where the market will go. So we see that we have a red stochastic back ground during the recent downtrend. MTT Code 28 Bullish signals were short lived and weak. After each weak green signal, bear signals had significant price action downwards. Thusly I can draw the conclusion that if the bullish signals were weak we can expect to see significant price action bearish side.
Currently we seem to have a found good floor of support at 3376. Bullish signal went out and we have seen a gain of 20 points. Bulls are currently testing their strength and we will see if they can make a significant retracement. We have 3/3 on the Mtrendmeter. I am prepared to stop out at a moments notice of bullish sentiment weakness.
Currently we seem to have a found good floor of support at 3376. Bullish signal went out and we have seen a gain of 20 points. Bulls are currently testing their strength and we will see if they can make a significant retracement. We have 3/3 on the Mtrendmeter. I am prepared to stop out at a moments notice of bullish sentiment weakness.