A Big Picture

[malvado xetra]

I ve been looking to weekly and monthly long term charts and I think you can see useful things

[notouch]

You're not calling a top again are you mx? :p

[malvado xetra]

Hi, Noutouch

I Dont Know What Mx Means

I Attach A Dj Transport Average Which Is An Index Quite Wise.

Dont You Think This Wave C Is Too Long.

Is It Possible That The Short Term Trend Is Inverting To A Bear Treand And This Wave C Is A Wave Bear 3

[malvado xetra]

if mini sp lose 1480 I think we are going to see a big thing in the next days

[torero]

So far, the new highs are taking longer to achieve, the move down yesterday is still in solid support. Nothing serious is broken... yet.

[notouch]

It definitely appears to be topping on the daily charts so I'm planning to liquidate longs I've built up over the past month if weakness continues. There seems to be more volume coming in to sell the rallies than buy the dips. You'd expect at least a 50% retracement of April's monster rally. Having said that there is still a lot of buying interest on the dips, probably just dumb money at this stage but enough to keep the market in a range for now.

[malvado xetra]

I think the corection has finished. the mini sp respected its level of 1480 and touch the 1493. another up is coming from now to reach the past highs.
as torero said, its been nothing serious. the upward trend is still working

[malvado xetra]

I have noticed that the biggest volume bar in a 60 minutes candles mini sp chart has been today for the last month and it belongs to a reversal candle. It means, in my opinion, that new upward movements are coming for sure.

[notouch]

Definitely strong buying coming in off the pullback and a strong close paves the way for more gains in the next few days. A time for long-only trading strategies I think.