Yesterday was a POMO day and we made the backtest quite perfect from broken trendline as you can see on 30 min chart. The backtest is a kiss of death and we should really begin tank hard here after this backtest. Summation index still on SELL signal since 19th october, now just needs a confirmation of that, so lets see if we get a nasty down day today , cause its not POMO day today.
MACD about to tick into negative territory and that will accelerate the selling pressure - so nothing really new, still 100% short , markets getting interesting here, POMO job done yesterday with backtest of broken trendline before a nice crash. I still believe a crash is comming and you wont be long here.
Take in mind we are still in a major major Head and shoulders pattern and bearish flag over last months, which I think will breakdown and move down to 942 area.
The big downmove might first start in November, but lets see, I think we are close, but thought so 1 month ago too... but everyday more signals showing that we are heading down, now with (broken up trendline) - (backtested) and then down..... lets see. Remember the TOPPING is a PROCESS , so last weeks we have just been moving fast UP and DOWN, usually a sign of a top....
Have a nice day
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