This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Friday, 27 September 2013
Quite a confused picture...Ftse daily chart bearish but not confirmed by other markets.Dow weekly candle chart is bearish though
Yes, old FTSE is looking a bit weak, and monthly MACD cycle looks prone to putting in a bearish cross in Oct or Nov.
Yet...most of other world indexes are soaring. Even the stinky IBEX and MIB are looking very strong. - I will need to consult the crystal ball...or pyramid for further guidance.
Pretzel " In conclusion, I feel fairly confident that the decline from the all-time-high was impulsive, and I thus expect the market has at least one more leg down still to come. Further, I suspect this is actually the early stages of a larger decline. Nevertheless, once another leg down forms to allow the potential of a complete ABC (assuming I'm not dead wrong, of course), I'll reassess that intermediate outlook"
Hey CR :)
ReplyDeleteYes, old FTSE is looking a bit weak, and monthly MACD cycle looks prone to putting in a bearish cross in Oct or Nov.
Yet...most of other world indexes are soaring. Even the stinky IBEX and MIB are looking very strong.
-
I will need to consult the crystal ball...or pyramid for further guidance.
Have a good weekend!
Hi PD good luck with that ! Have a good one !
ReplyDeletePretzel " In conclusion, I feel fairly confident that the decline from the
ReplyDeleteall-time-high was impulsive, and I thus expect the market has at least
one more leg down still to come. Further, I suspect this is actually
the early stages of a larger decline. Nevertheless, once another leg
down forms to allow the potential of a complete ABC (assuming I'm not
dead wrong, of course), I'll reassess that intermediate outlook"