Posted in: spread-betting
RE: Trading/Spreadbetting board26 Feb 2015 11:46
Good Morning Everyone ---- well, everything and it's dog still looking extremely Bullish ( except Oil , perhaps ?) ---what will be the catalyst for a pull-back/consolidation we all wonder ? --well altho' the view of many (including me) is that a pull-back/consolidation any time soon would be "healthy" and give a "value entry" especially on the Dax and Dow , there is a technical case for a continuation to much greater highs without a pull-back from current levels at all !! --- simply put , if Indicies "hang around " current levels (ish) for long enough then the current channel bottom trendline on the daily and 4 hourly charts will be fulfilled and further upward momentum would be seen !!-----
In opposition to these indicators , however, is the current overbought daily and 4 hourly RSI indicator ( which i am a great believer in ) -----
I would like to see a drop to 11100 at least on the Dax and 18000 on the Dow -----fingers crossed , but before "sell in may" and all things being equal we will see a lot higher levels than todays -----
JMVHumbleOpinion all ---
GLA.