WEEKLY FORECAST FROM 05-05-2014 TO 09-05-2014.
Hi Everybody. With the Friday´s job report I hope the COMPOSITE will go better than the latests weeks. However I think it´s important to analyze the Chart. It´s a shame that the Ukranian crisis is increasing. I wonder Why they don´t make a democratic elections?. In my opinion once they have the results they have to respect the democratic decision, Both sides. It would be better than a civil war...
We can see the investor´s fears in the Chart.
Let´s see the technicals:
S1: 3.965 S2: 4.017 R1: 4.180 R2: 4.283
As you can see, the point is near to the .382 Retracement. I can see an small triangle formed from the second point of the double ground.
The AVG´s are very close so it´s probably we will see another little correction soon. From my point of view the composite will go up among the begining of the week and then it´s probably a little correction.
It´s probabaly the curve bounce form 4165 with a support in 4.094. I hope the curve will go above the 4150 for the end of the week.
The MACD is above the signal and below the zero with an uptrend direction.
The stochastic is at 75%.
And the RSI is at 48% in a flat pattern.
Some videos playing the electric guitar:
A little blues. And one song from my favorite guitar player.
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