As expected markets headed lower for the first time ( more than -1% ) in like the last 6 months. Looks like the correction got started last week with the Egypt problems and markets heading down. Havent been able to update blog since Thursday , so sorry for that. Just a quick update before the markets opening - there is a great possiblity that we are going to backtest the broken trendline before heading lower. I expect early this week markets to move to the upside, but we should not see any high highs , before heading lower. Target for the correction is still 1180-1225 area, where we have some good support. Will update with charts by tomorrow.
Have a great day
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