THE DOT - if this turns orange or red be alert

Friday, October 30, 2009

part2

3. Plenty 'good' news were wiped out as the markets sold off to a new weekly low on Friday - the price action confirms our assumption and we are half way done to the downside. The weekly charts produce now clear sell signals adding to the pressure going forward.
also the Oil market turned at our target level as did Gold and the Dollar has joined by rising the whole momentum of turning tides. We even have pruduced the first monthly loss in this bear market rally with a reversal pattern but its too early to make a big fuss out off it. I still stick to the scenario that we will see a double top event as they will try to pull the market up again towards yearend.

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