Its been a confusing few weeks, but the last few days have given clarity. The market is putting in at least a mid-term top..and we're now starting a 4-6 week down cycle across April..and into May. There is multiple support for this, not least in the commodities market.
*There is a great deal going on, its hard to know what to cover
sp'60min - with downside count
I am patiently waiting, I think bulls could kick things higher still.this afternoon to sp'1566/68
Lunch time video from Mr Carboni...the 1000th video..interesting outlook on the precious metals...Oscar is looking for Silver 17..and then 12.
UPDATE 12.10pm..hmm, this is starting to get...annoying.
Is the high in for the day?
Bears need to take out the 1549s...and then its open air down to 1540/35.
I do not like chasing it lower at this level...this is dangerous level..if the bulls can manage a ramp at this point.
So..I'm still waiting.
UPDATE 12.30pm....bears need to be real careful here...I smell a nasty ramp to 1564/66.
I would be real annoying to miss out on a down move to 1540, but I can't chase it lower at this level.
Target re-short...2.30pm...around the sp'1564/66 area..