Friday, 26 October 2012

3pm update - closing into the weekend

The week has been one where the bears have fought hard to hold onto their moderate declines. It would appear the bulls are losing their grip, as especially seen on the bigger weekly index cycles.




I've added a vague guess at what might be a valid count. Is this a particularly weak wave'2 /bear flag, that is so weak, its still trending lower?

I don't expect much this closing hour, least of all for the bulls who have spent the past 4 trading sessions (since the big gap lower on Tuesday) trying to rally back..failing EVERY time.

back after the close