May 16, 2016

  • Weekly MACD Looks good for a correction. Some more breakdown needed in daily chart to confirm weakness.
  • Bears need price to sustain below 50 day SMA.
  • Crucial numbers are 2039 and 2033. Below these levels bears will remain strong.
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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore