According to my bro Chris and his new found Demark technique, the current uptrend had ended last night. (Demark predicts turning points and trend terminations quite accurately) This has been further confirmed by the dojis that kept forming and the volatile behaviour of the market these days. Markets behave in a more volatile way close to the end of the trends, regardless of whether it is an uptrend or downtrend.
I'm now looking for the indexes to break the 20 day MA support and then the 50 day MA support. Once the 50 MA is broken, it is then that the downtrend will be confirmed.
Thursday, August 27, 2009
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