Our world in and out of the workaday world
The index is in a short term downtrend since Sep07 .. In the intermediate term, there is an absence of a trend .. The important area of concern at present is whether (a) the short term downtrend is the early stage of a bigger downtrend, or (b) the short term downtrend is a secondary countertrend to a possible new uptrend .. It's still a waiting game .. Cheers !
Copyright (c) 2008. Whipsaw. All rights reserved. www.whipsaw.bravejournal.com
In the intermediate term, the market is still making up its mind .. (point 1) break of uptrendline A .. (point d) failure swing confirms the end of the previous uptrend .. broken pink line shows the index in a triangle pattern .. broken white line shows a possible unfolding head and shoulders ..
In the near term, the index is in a downtrend since Oct07 .. (point B) current provisional downtrend line ..
Copyright (c) 2008. Whipsaw. All rights reserved. www.whipsaw.bravejournal.com
Recent Comments