We did not see the island top but it has a divergence and therefore we saw a continuously 4 days pull back on NASDAQ. It came down and touched the first support 4840. Then we saw a turn around candle on last Friday. Could this be the end the pull back?
I prefer not. I prefer it goes into correction. Nevertheless, if this end the pull back and NASDAQ continues to go higher to test 5130, I will be on guard, watching the price action together with signal as a Opera House has formed, a correction may take place if thing went wrong.
DOW, same as NASDAQ - divergence with a continuously 4 days pull back and a turn around candle on Friday. We are moving into the 1Q15 companies report. The result will affect the direction of NADAQ, DOW and S&P. On top of that, this week we have some important reports like the PMI, Non-Farm......which will affect the market too. So watch out on that.
What about STI? 23 and 25-Feb, its tested 3453 but failed. Once again, it is testing the resistant. We saw a positive candle on Friday. But then on Future, SIMSCI had a shooting star close the resistant level. I will be watching on price action together with indicator.
I prefer not. I prefer it goes into correction. Nevertheless, if this end the pull back and NASDAQ continues to go higher to test 5130, I will be on guard, watching the price action together with signal as a Opera House has formed, a correction may take place if thing went wrong.
DOW, same as NASDAQ - divergence with a continuously 4 days pull back and a turn around candle on Friday. We are moving into the 1Q15 companies report. The result will affect the direction of NADAQ, DOW and S&P. On top of that, this week we have some important reports like the PMI, Non-Farm......which will affect the market too. So watch out on that.
