Not looking good folks...Yesterday was a clear harbinger of things to come..I was expecting a bigger and better bounce but did not happen to the extent of what I thought. But yesterday's market has damaged the charts and I do not see an easy way out of this....
Weekly stochastics has more or less crossed over to the downside. Weekly MACD did the dreaded kissback I was talking about and rolled over. Daily MACD also issues a sell..So what gives? We can see maybe a very small bounce today but ultimately I see a lot of weakness for us in medium term...Retest of the lows and maybe lower is on the cards.
Yesterdays market left me very frustrated. Market is doing pretty much what I expected it to do but I am just not timing my trades right...Or in other words trying to do too much and catch every swing... :( Probably I need to learn how to sit tighter in my trades!
But well better luck next time then.... ;)
BTW, how was my GOLD call? Good profits very fast...lol...Anyone made use of it?