1) Current resistance level is quite clear
2) SP 500 is sitting on an important support level (recent resistance level)
3) "Time" pattern ; SP rose from the lows in early July a "little too fast" (time pattern suggest we could head for a sideway pattern before the "next break out".
4) Green arrow scenario ; low probability unless we get some "miracle" economic numbers.
5) Blue scenario ; high probability
6) Pink scenario ; Low to medium probability
Conclusion ; All scenarios still suggest that "buy on the dip" is probably the best approach.
Main worry ; Chinese banks and the Shanghai index not willing to pop up.
0 comments:
Post a Comment