Down - but not out.The Slow Stochastic has crossed below its 80 level. Further selling in the short term seems likely.
The Index remains above the 13-Day MA and the MACD still hasn't crossed to the down side. The chart remains above the crucial 4800 level.
If the index breaks below those benchmarks, then this may be more than a short term consolidation and morph into a major retracement.
Seasonality favours further upside.
We shall see.
Good luck
Red
No comments:
Post a Comment