Sunday, October 24, 2010

Market view





Hope you enjoyed your weekend !

Markets is still in a topping process and we should begin to see a very nice sharp sell off soon. Everyday we get more and more bearish signals. Mclean summation index is still on SELL signal since 19th October and AAPL is getting close to a breakdown. Same with Nasdaq weekly chart looks toppy - forming a bearish hanging man candlestick this week, which is often a reversal candlestick. The NYSE weekly chart made a DOJI candle which is also a reversal candle - so there is a big possibility we start moving down from next week and it will be confirmed with a big fat bearish engulfing.

I'm still very long the dollar as it bottomed and is about to make a big rally here with markets moving down.

So again - waiting for the crash to come, but when it starts it will get fast.

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