Thursday, April 10, 2014

Brief Stock Update

Hourly chart technical analysis suggests a possible long set-up for tomorrow, but the daily and weekly current are down and so what often happens with the intermingling of the cycles is that the shorter term set-up will have a more muted effect than it would if the larger currents were up.

Panic levels are still a ways off on the put/call ratio and VIX, and so despite the increased price volatility here, my outlook remains bearish for the intermediate term until further notice.

As a side note, for those who follow gold and silver, I would suggest that you be tracking those markets closely for long trade set-ups.  There may be some lower lows for the recent decline to set-up a bullish divergence, but my take is that a buying opportunity is potentially near.

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