Tuesday, June 12, 2012

Nothing CLEAR!

We are sitting between the 200MA and the 50 MA. Right here we are in no mans land and that's why we will have a roller coaster range till we have a clear outlook. Right here is where traders take vacations and that's why I have not been posting as you basically will be guessing and where the market is heading. Only clear thing I can see are that short term cycles have turned over, but longer term cycles are definitely bottoming!! We have to get back over the 50MA for me to get long. If we dip down back towards the 200MA and it holds we look like we will form a nice inverted head and shoulder pattern to get long. intermediate term here I think we can head higher into the range.