Thursday, August 16, 2012
Topping process in the markets?
Just looking at some markets and they look quite similar in nature. Using weekly, looking across SPX, MXASJ, FSSTI and Aussie, they are trading at the near the top of a weekly resistance line. And last week, SPX, FSSTI and Aussie both flashed sell signals (demark). At the same time, VIX has also fallen to the bottom of a weekly support line and also have a buy signal flashed last week (demark).
Expecting a pullback soon and no point chasing at here. Given the summer lull, won’t be a huge selloff yet.
SPX: sell here, SL 1422 and above, TP 1360
Subscribe to:
Post Comments (Atom)





No comments:
Post a Comment