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Positive Thinking Tuesday, page-3

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h00ts

46,686 Posts.

8809

13/09/16

09:34

Post #: 19112369
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Originally posted by redbacka ↑

Monday Evening Liqueurs. 12 September, 2016.

STW (tracking ETF for the XJO) down heavily -2.27%.

Using STW in extreme circumstances is useful as it shows opening gaps more readily than the XJO chart, which, because of its nature starts more or less where it left off the previous day. (That's an artefact of the staggered start on the ASX.)

Today's gap down is huge, about -1.4%. We rarely see such big gap downs unless where looking at a bearish scenario.

On the positive side, indicators are oversold - but they can always get more oversold. The trend is always more important than the indicators.

So - we've had a big gap down. We're oversold. We could get more oversold.

The obvious target is stil the 200-Day MA. We're just a little off that.

Expect a bounce there.

If the market decides to go lower, down through the 200-Day MA, then we're in a bear market. Act accordingly.

RB

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@redbacka - @Jako64 Et/Al - all comments welcome - I was wondering do you place any store in the EMA as opposed to the MA ? below is the chart with the 2 of them upper blue is the 200 EMA lower green is the 200 MA
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