Posts by Steve Rushton

Managed to hold onto the Buy Signal, just, but still in a potential sell warning state.
The next few days will presumably show the next way forward.

Buy Signals being generated this morning. Cover short positions

Nice bounce yesterday, making for a good overnight trade, but now needs to get through significant resistance in the 2030-2050 area. Not impossible but the safer trade would be long above there.

Notice how the action has become increasingly parabolic over the last 6 months. What's next ?

OSC turns negative
L/T Sell Signal now in place.
Failure at 55 ema – look for move to 1950 or lower.

We may have found support at the S2 line.
Overnight bullish trades still looking good.

Yesterday's sharp move down and break through of the 55 ema suggests that there may be more downside.

Look for a possible test/break of the previous low at 1970 to scare the weak bulls before another re-test of the highs.

A wild start to the new year, with profit taking of the santa rally, (note similarity with last year)
but managed to stay above the mid-point proving that the bulls may still be in charge.