Market view

Yesterday we got some more selling and then some dip buyers pushing the markets higher and recovered the day. I think the trend has changed and we need to see a fat sell from here.

The NASI needs a RED day and not green - if we get a green day today we could have a buy signal on the NASI which should not occur in this territory.

I expect a big fat red day today below 1200 SPX and the dollar rally again from little pullback..

Well time will tell the only thing is at least when SPX is below 1220 looks like we make a lower high and lower lows for now.

Im just making a quick update with the charts.

QQQQ is getting so close to loose the long term support trendline here, but snapped back up. Lets see if we manage a CLOSE today below this trendline which would be ugly.

G20 today and tomorrow... lets see if anything happends here..

Expecting the dollar to rally further.

The NASI needs a lower low today(red close) - my target for today is 1196-1200 area...and lower to come

Some interesting chart by humblestudent on the top.

The CRB index reached the top of a huge channel down and reversed ( down -0.5% today ) and there is a lot more downside to go now.(Daneric chart)

New update : Take a look at the euro chart (weekly) what I found out VERY interesting is a big huge bearish divergence and we are rolling over RIGHT at the time making a BEARISH engulfing pattern on the weekly chart. Very bearish for the markets and I think there is a lot more downside in the euro to come. Look at the MACD histogram the green line I made.




Have a nice day