Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Sunday, September 28, 2008

Not looking good

Charts will follow in the post after this.

For a few days I was entertaining a bullish notion...I was wrong about short term..Looks like longer term bearishness has taken stronger hold and we are going to make a very important low. Where I do not know...But I think odds of breaking 3800 are very high this time. I know of very few situations where a support is being tested for a 3rd time and surviving...So it should break and we should test 3600 and lower. We will visit that when we get there. After making this low, we should embark on a strong multi-month rally...(the bigger B wave - will explain more with charts)

I got stopped out of all longs and am now looking for an area to short. But it situations like this, its dangerous to chase an entry...Maybe just sit out for now.


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