Normal
That push down on Thursday on US markets and today’s rebound off major support levels will probably send markets in a massive consolidation phase into September. I don’t think those lows will break lower again this month… (Spi) Yesterday’s drop into 5650 and my view is that the market will rotate back to 5950. Ideally I would like the market to come down Friday and form a base and rise up from a lower weekly open, this will give traders a much better option to capture any advance up move. (August 17th 2007)Monday opened above the 3-week 50% level @ 5749, it was abovethis level for the first time in a few weeks, with the break of the 3-day average highs (5784-805) sending the market back towards major distribution zones on the SPI around 5950.I’m still looking for consolidation into September withmassive swings in the market on a daily basis…..Frank Dilernia
That push down on Thursday on US markets and today’s rebound
off major support levels will probably send markets in a
massive consolidation phase into September. I don’t think those
lows will break lower again this month… (Spi) Yesterday’s drop
into 5650 and my view is that the market will rotate back to 5950.
Ideally I would like the market to come down Friday and form a
base and rise up from a lower weekly open, this will give traders
a much better option to capture any advance up move.
(August 17th 2007)
Monday opened above the 3-week 50% level @ 5749, it was above
this level for the first time in a few weeks, with the break of
the 3-day average highs (5784-805) sending the market back towards
major distribution zones on the SPI around 5950.
I’m still looking for consolidation into September with
massive swings in the market on a daily basis…..
Frank Dilernia
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