This post was supposed to be uploaded last night. But i was out for one of my student’s (Michelle Tay) wedding dinner and caused a delay in uploading the post. I truly enjoyed myself at the wedding dinner. Great reunion with my ex-students from Curtin Advertising classes. And glad to know many had been able to land a job in Marketing despite the challenges in the market.
Speaking of the market challenges, last trading week closed November 2013 on a firm bullish note. Did you managed to profit from the bull run? Do you think this rally will continue till end of 2013 in view of the Santa Claus rally?
Long term trend is UP. No sign of weakness. Except prices has touched the top edge of its envelop signalling overbought condition.
Mid term trend is UP. MACDH is looking toppy. And last week’s range was very narrow. It would be due to the shorten trading week, or it could bulls are tired. But RSI and Dow price envelop shows there could have some more room to run. Let’s see if bulls are really running out of stamina.
The short term trend is UP. It is progressing upwards without getting to the top edge of its price envelop. MACDH signal the power of bulls are lacking as prices goes higher.
VIX (Fear index) mid-term price view has bounce away from its support.
On VIX daily chart outlook, price pattern are getting closer to Jul-Aug 2013 formation. If it is going to repeat itself, means a strong rally on the VIX is coming up soon.
Long term (monthly chart):
Mid term (weekly chart):
Short term (daily chart):
A correction or dip should be due. Long is still the side you should take if you insist on trading (unless you are scalping or doing day trade). Every dip is an opportunities but a tight stop or hedging your position is a must have. Keep your position small is advisable too.
Strongerhead ways to becoming a better trader
NOTE: All information provided “as is” for informational purposes only, not intended for trading purposes or advice.