Tuesday, October 4, 2011

Sleeping sickness

Hang on! The bottom did not drop out yet, not yet. Tell me if this drop will hold, I will pray to Thee my Lord for the miracle. If you are looking to go long for a swing, I  would suggest you to do that when we clear that small horizontal trendline in the middle of the chart. You can play the small bounces in between, so that you can buy icecreams for your kids, or pop sodas, chewing gums for yourself. Otherwise it is not worthwhile. You can go full stop short sell below the big bottom line with a 2% stop. I usually do not suggest shortselling (though I do it myself at my own risk many times) but this chart looks too enticing.

The real moves will happen during night because the above chart is Emini futures, hence I used the term "Sleeping Sickness". Well, this is not African Sleeping sickness but the American version of it.

Always keep in the mind the Dracula version of the markets, I posted what they may do.

Review of the European market indices

FTSE and DAX have been trading in a box for the last 2 months with the momentum moving up. All 3 major indices escaped the bearish cross down. It looks like that the down cross is inevitable this time around. I don't see anything bullish at this time. They are poised to go down. We will review after one week.

Subscribe here and follow by Email