Monday, October 26, 2009

Intraday update Indices

The indices are trading in a range between 1078-1098, dont have a defined trend, so the next movement will be very violent.we can see a lot of negative divergences. my guess is the indices can do a new high complete the final leg of the wedge and then breakdown.
Alternate scenario: we are doing a symetrical triangle, and the 1120-1130 area can be achieved.
Ps: its a good time to add short positions until 1110.
Regards and good trades.