Before we gonna go South we test the 200 SMA one ore two times to form a nice head and shoulders pattern.
Why not going South big yet..?
I see no confirmation. The candlestick patterns on the Weekly and Monthly are still very bullish. There is some RSI divergence, but if you look back to the period 2011 - Q1 2012 on the weekly this divergence doesn't play out.
11-04-2014 Update: Today hit on 200SMA?? There is strong support about 3420. Weekly is rolling over, a lower closing today means that we are goin slowly into a bearish trend. Let's see how today unfolds.
Comments
lmaxmax
⋅
We are in bull market, never be panic.
A-shot
⋅
Maybe, but we foresee a bear market. We don't want to get stuck in the bear market once it happens - once it happens it will be late.