Fundamentally, all is not well with the global economy. There is a belief that more bad news is still on the way. The stock markets are sometimes way ahead of the printing of such news. If you can nail the turn downwards as per the channel on the chart it could prove very profitable quickly
Comment:
qualified bearish reversal on the daily chart if we close like this at the end of the day
Comment:
There is good price strength today and that is not in keeping with the original idea of this post. Nevertheless, as the invlidation point for this idea is 4200, we are still in play. However, as there is a downtrend channel on the chart, I will be looking for a breakout of the said channel as invalidation. This price is around 3950 today.
