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Current strategy: one more severe plunge


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#1 fluid

fluid

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Posted 26 November 2011 - 06:46 AM

I am just evaluating the charts and see the oversold indicators are almost there, and the VIX just popped its head above the 50 DMA. I think we need to see a spike above it further and a reversal next week, to mark a tradeable low. The trend is strong and is down so the extension scenario is favoured. I dont see much support on the 1020 area, which fits in with MASTER CHE's target zone and scenario. Happy thanksgiving.