Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Thursday, December 18, 2008

Merry Christmas!

Well guys this bear market rally has continued much more than I expected and I feel quite drained..I am however still medium term bearish...Even though tired and exhausted with this market...Being year end and Christmas, I am taking a few days break from the markets..I am leaving some short positions still on but not trading around them anymore...I leave you with some good long term charts for your study...I have not added much comments but you can check them out...see the important t-lines and price areas of importance I have marked on the charts..Anyone with basic TA knowledge can make out what I am trying to say here :-) 

First Chart - Monthly Sensex Very Long Term....Still in a nice bullish channel. Will we test the bottom area of the channel in 2009?

A closer look of same chart but on a weekly scale. 

An even more closer look. Notice the area of importance price is now approaching. Good short point with appropriate stops.

Stay safe out there and Wish you all a Merry Christmas and A Happy New Year!


Monday, December 15, 2008

When sudden realization sets in....

When the music stops, who will be left holding the bag? 

To me the past few days look like distribution than anything else. Optimism is back. The public is being trained to buy the dips. 

FIIs are buying again...So it seems. Hasnt anything changed fundamentally? Has it become better?

I think IT is showing whats in store for the broader market....very soon...

Chart of Infy first -

Same charts of nifty as I posted before...but updated..and latest comments...Has anything changed?

Log chart...Same story here also.

A very bearish Lee.