which way monday, page-40

Mouth watering situation in the market at present and making a low on the 7th, or was it a high the 2nd.
I guess by looking at the swing chart its just as confused and hence why waiting is the option when its un clear, you would think the short entries were there today and confirmation would be a break of the recent swing bottom.
Upside still needs to get above 4800 to confirm the xmas rally.

Like my inverted head and shoulders :)))) ( its a joke OK)


So looking at the EMA's for a direction i think again its be ready if the bull wants to play santa , and the momentum indicator is delicately poised as it was in March and July.


One thing i noted when we all met in Brisbane over the weekend was looking at 03 how the legs were then ( long short long) and now we have had what i would consider 2 long legs, so if we do get another shorter up leg in both time and price then it would be a termination move and remainder of 2010 could be lower from say April.

Might post the charts sometime but very interesting, oh and Brisbane what an awesome bunch of people and talent gathering as one with a common interest in markets. Getting a Redbacka Report live is just brilliant, so thanks RB

Regards
Rob