Thursday, December 16, 2010

Market view


Just a quick market view, sorry I have been really busy lately so I haven't had time last days to update with the daily outlook.

But well , there is not much new - I'm still expecting a nice drop into new year at least and I'm looking for 1150 to come. We should see 1220 SPX over the next few days in my oppinion, so lets see, but in these moves down we should also get few small "bounces" which should be shortable.

We have a nice bearish divergence on the daily chart, which most often leads to some bigger correction over a month or so.

Lets see over the next weeks, still very bullish the dollar and think its about to get the wave 3 move up (been consolidating last weeks)

Overall the 30min chart and 60min chart indicating that we should be up and green today.....but after a possible pop today, watch out for a nice short entry imo
Have a nice day

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