DOW has only moved 18 points in Asia and SP500 2 points on Tuesday. The 3 day sideways trend continues. The Monthly, weekly and daily trends are all up. Dow's 2 hour trend is now sideways to down. To make a forecast where the stock markets are going now is not possible.
However no index has taken out the intraday high for 2012. The markets are very overbought and I guess we can continue moving sideways a while but my feeling is that a correction could come anytime. We are still in the middle of August and many players are on vacation. I am still trying to find weakness in the up trends but so far I only have the 2 hour trends moving sideways.
However no index has taken out the intraday high for 2012. The markets are very overbought and I guess we can continue moving sideways a while but my feeling is that a correction could come anytime. We are still in the middle of August and many players are on vacation. I am still trying to find weakness in the up trends but so far I only have the 2 hour trends moving sideways.
No comments:
Post a Comment