monday monday (da da, da da da da), page-2

Bullish or Bearish?

Princeton generally do a very good job of timing cycles.

I'm starting to think their predicted low in this late May short term cycle may in fact just be a lower high, with the sell-off to come? You may be correct Jaolsa, still unclear but I note the bearish indicators below:

- USD is looking very oversold, and hit 6 month support.
- BHP is nearing the end of it's bearish rising wedge.
- Gold has just broken north.
- A few stocks energy stocks I'm watching have formed what appear to be H&S patterns, currently sitting on the neckline.
- VIX has hit long term support and starting to creep up.
- SP500 trendline was broken (just), forming a bearish descending triangle, if it drops down to at least 800 it could possibly form a large inverted H&S.

Have included a possible BHP short trade below. BHP could drop significantly if that bearish wedge breaks, and target is a neat double bottom. JD has mentioned option expiry so hoping to get a bounce before possible short.

Another video I consider worth watching:
http://www.youtube.com/watch?v=zq1a1rM5UJY