the strongest asset, page-16

Bit quiet on here today so far.

Looks like our market has seen the ugly bar produced on the U.S markets on Friday and is acting as a potential Futures market for what may happen in the U.S overnight.

If you had twisted my arm really hard for a guess at what might happen on the Dow Monday & Tuesday, I would have called it for an UpThrust or a Down Day on Monday and a Down Day on Tuesday.

I feel the Professionals Overseas may use the news to push lower and shakeout the market and try to panic any further weak holders into selling, before the Fed announcements due later in the week.

We do have some potential strength building in the Index charts, so I'm looking for a shakeout, then some testing.

The Fed announcements later in the week, will be very important in the future direction of the markets in the short term, I think.

On the Atlas chart so far today, I see some weakness appearing (selling) above $3.69, and some support was seen earlier in the trading day at $3.66 and then No Supply (No Selling Pressure) at that same $3.66 level, later in the morning.

Who knows if this will continue or hold, but so far so good.

Our bar on Friday was a fairly narrow spread gap up bar on higher than average volume, which would suggest some short term weakness.

Any thoughts Hotfire, or anyone else ??

cheers