Well I'm pretty new to this, but my assessment is that it looks like we have been moving close to testing the long term daily TL for the past month or so. Today's ((less bad news)) about US jobs simply gave it that little extra push to finally break on through.
It seems as though there is both long and short term confluence around the 4800-4825 area. My idea is that this could possibly be the bottom before the upward trend gets some of it's footing back.
The next month or two could be pretty shaky though since the seasonal numbers will give the US a bit of a boost. But since the situation in the US is far from over I think long term going into next year we will still be treading up.
As I said I am very new and could be waaaaaaay off.
It seems as though there is both long and short term confluence around the 4800-4825 area. My idea is that this could possibly be the bottom before the upward trend gets some of it's footing back.
The next month or two could be pretty shaky though since the seasonal numbers will give the US a bit of a boost. But since the situation in the US is far from over I think long term going into next year we will still be treading up.
As I said I am very new and could be waaaaaaay off.