Hi all,
Quick update to one of my previous charts. Lower high has been confirmed as suspect uptrend collapses like i thought it was going to. It doesnt take a genius to determine what comes next. We are on the path to 6k while the longer term bearish indicators manifest(death cross, closes below 300D SMA). Inorder to jump start a bull run i think we need overreaction to the down side. Over reaction to the downside tend to follow up with over reaction to the upside. I dont see 6k as being that anymore. However i am not ruling out a double bottom. We await 6k and the market reaction to determine the next course of action. Until then we have continuation.
Quick update to one of my previous charts. Lower high has been confirmed as suspect uptrend collapses like i thought it was going to. It doesnt take a genius to determine what comes next. We are on the path to 6k while the longer term bearish indicators manifest(death cross, closes below 300D SMA). Inorder to jump start a bull run i think we need overreaction to the down side. Over reaction to the downside tend to follow up with over reaction to the upside. I dont see 6k as being that anymore. However i am not ruling out a double bottom. We await 6k and the market reaction to determine the next course of action. Until then we have continuation.
