P3 is ongoing my friends, that's what I see of this movement...
Remember this chart I posted 3 weeks ago? I said after the break of the wedge line we needed to retest it and then kiss goodbye.
I though we'd retest it in a more faster manner, but what the index actually did was this:
It went up and up bumping up every time against the resistance, trying to regain the wedge area...it failed and to me is a kiss death goodbye. Sayonara bulls.
P3 is ongoing folks, as I see it... of course I'll look like a damn fool if I happen to be wrong, which may well happen.
Just pity the fool:
On similar fashion, the USD has broken it's long term trendline... it looks I picked the right night, the other day on USD since that so far was the day of the low... The trendline was also retested and reacted positively, so it all looks good for a trend reversal...
On a short term basis, and regarding S&P, we're now oversold, and we have a few important news coming up for the next 2 days, so volatility should come knocking. A bounce reaction to those news may happen and they would actually help to clear some of the oversoldness... And the structure calls for a bounce as well...
Portanto ainda vamos aos 1060 +/- e depois é que vai cair a sério, é isso ? Não estou muito convencido acerca desse cenário... mas nos mercados tudo é possível.
Como ves ai tens a subida... ja tocou nos 1051, vamos ver se fica por aqui ou continua mais um pouco.
Atençao q cair a serio nao e' começar crash nem nada... a P3 será uma onda basta longa no tempo tambem. a seguir aos 1060, penso q podera ir aos 1013 sensivelmente, e ai começar uma correcçao maior de volta aos 1070...
Just wanted to say I finally got access to investing in INR. Fidelity lets me trade on the exchange in France. Very excited. So I should be covered with India with INR, EPI, INP, IFN.
Any updates or thoughts you care to share? Or business as usual with India? Thanks. And appreciate all the info on this blog.
Looking forward to the agressive portfolio; and possibly a real time translator on these blogs...hahaha...feel like I am missing out on some good dialogue!!!
Portanto ainda vamos aos 1060 +/- e depois é que vai cair a sério, é isso ?
ReplyDeleteNão estou muito convencido acerca desse cenário... mas nos mercados tudo é possível.
JM
Como ves ai tens a subida... ja tocou nos 1051, vamos ver se fica por aqui ou continua mais um pouco.
ReplyDeleteAtençao q cair a serio nao e' começar crash nem nada... a P3 será uma onda basta longa no tempo tambem. a seguir aos 1060, penso q podera ir aos 1013 sensivelmente, e ai começar uma correcçao maior de volta aos 1070...
Hi sal
ReplyDeletei agree with your thougts.
It's all about the ...$!!!
Once the $ starts to rally everything will be toast
Whats up Sal,
ReplyDeleteJust wanted to say I finally got access to investing in INR. Fidelity lets me trade on the exchange in France. Very excited. So I should be covered with India with INR, EPI, INP, IFN.
Any updates or thoughts you care to share? Or business as usual with India? Thanks. And appreciate all the info on this blog.
Looking forward to the agressive portfolio; and possibly a real time translator on these blogs...hahaha...feel like I am missing out on some good dialogue!!!
Take care,
NYC (N)
Geez NYC,
ReplyDeleteI do you want to be exposed so much to INR ?
IFN = INR i think they're from the same management company and everything... only difference one is quoted in € while the other in dollars.
Don't over expose your self