the index saw resistance and fell back yet still i dont buy the idea that it would go straight down from here
my bet is hsi would go above the 28650 level again before dat wave c happens:)
market rebounded to 285xx and reversed as predicted.
but still i couldnt say this is the start of a much bigger mid term correction
this month s candle very likely to be bearish but its not 100% and todays high shouldnt be breached again for the downtrend to continue
won some fast money these few days :) gonna stay on the sidelines for a while
the index plummeted crazily right after i 'd called the top :)
it should rebound from here back to 285xx before going down again.
Remeber i said this months candle is very likely going to be a bearish one ? ( becuz of the 8 consecutive bullish monthly candle theory)
we opened at 27885 this month. we should go below 27885 before the last trading day of October
the index found support at the range bottom again with the hourly bar closing above it.
We may get another push to the 288xx area before going down again towards the end of the month
index found support at 286xx the range bottom with the hourly bar still closing above it.
we may get another push to the 288xx area before a quick drop towards the end of this month
saw resistance at 288xx. should be heading to 282xx-281xx first.
some interesting finding : after 8 straight bullish candles on monthly. the 9th would be bearish(which was true as we saw last month).
the 10th candle would also be bearish 70% of the time). This month the index opened at 27885,
lets see if there 'd be some fast sell off towards the end of October.
after the rebound to 285xx, index quickly dropped back all the way to 283xx and further to the 282xx support during the night sessions
yet it found support at the bottom of the range again and managed to go back to 284xx this morning.
Now it would only be safe to short again if the hourly closes below 28330 or 28362 for futures.
it could go all the way to 288xx...
the top of a channel, a pitchfork warning line, a fib level and the top in 2015..
the index s showing resistance
some little rebound to 284xx-285xx should happen first though
