redbull1973

NASDAQ (DOW) Scenario 2014

FX:NAS100   US 100 Cash CFD
0
Before we gonna go South we test the 200 SMA one ore two times to form a nice head and shoulders pattern.

Why not going South big yet..?

I see no confirmation. The candlestick patterns on the Weekly and Monthly are still very bullish. There is some RSI divergence, but if you look back to the period 2011 - Q1 2012 on the weekly this divergence doesn't play out.

11-04-2014 Update: Today hit on 200SMA?? There is strong support about 3420. Weekly is rolling over, a lower closing today means that we are goin slowly into a bearish trend. Let's see how today unfolds.
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