Every Monday since mid August, almost everyone including myself on this thread is predicting "that" big fall. I will post this analysis only to have a balance view on this thread.
Technical:
According to my strategy.. Daily charts are still very much bullish. 4hr tested the 200SMA once and as myself and lilmoe predicted it bounced back . Now the price is sitting on a deciding level.. Downward break from the current level will confirm a further fall.However to break 219 area daily QQE has to cross down.On the other hand if the price re-test the 200 sma, not only it will break that level, It will also limit any further bearish rallies towards 220 area and the price will be on it's way to 251+.
Fundamental..
Just early last week we heard on bloomberg , the stability of the financial markets and how investors are getting back in to the carry trades. Late last week, there were fresh news on how the UK is gradually falling into this this subprime "hole" and also the political uncertainty in Japan. At the same time hang seng index rose to all time high's, better than expected economic releases from the US and continues pitching's by world central bank leaders that there wont be a market crash like we saw on previous times. I must agree with Markam that things do not look good fundamentally. But when this big fall going to happen .. we don't know yet.
However I hope every intra-day trader should have a balance view on the market rather than getting married to this bearish mentality.
My strategy is clear and simple..as most of the traders here I'm an intraday trader. I take things as it comes, one trade at a time. I solely depend on my indicators. I have got a sell signal on my 4hr /1hr strategy on Friday with a profit target of 229.16. I'm looking to go short at a suitable price on Monday.
Technical:
According to my strategy.. Daily charts are still very much bullish. 4hr tested the 200SMA once and as myself and lilmoe predicted it bounced back . Now the price is sitting on a deciding level.. Downward break from the current level will confirm a further fall.However to break 219 area daily QQE has to cross down.On the other hand if the price re-test the 200 sma, not only it will break that level, It will also limit any further bearish rallies towards 220 area and the price will be on it's way to 251+.
Fundamental..
Just early last week we heard on bloomberg , the stability of the financial markets and how investors are getting back in to the carry trades. Late last week, there were fresh news on how the UK is gradually falling into this this subprime "hole" and also the political uncertainty in Japan. At the same time hang seng index rose to all time high's, better than expected economic releases from the US and continues pitching's by world central bank leaders that there wont be a market crash like we saw on previous times. I must agree with Markam that things do not look good fundamentally. But when this big fall going to happen .. we don't know yet.
However I hope every intra-day trader should have a balance view on the market rather than getting married to this bearish mentality.
My strategy is clear and simple..as most of the traders here I'm an intraday trader. I take things as it comes, one trade at a time. I solely depend on my indicators. I have got a sell signal on my 4hr /1hr strategy on Friday with a profit target of 229.16. I'm looking to go short at a suitable price on Monday.