Hi folksWhat an interesting couple of days on the SPL markets....

Hi folks

What an interesting couple of days on the SPL markets. Yesterday the SP hit a daily peak of 1.69 at 3.48 pm. This morning the Bots and short sellers managed to drive down the SP to a record low for four months of 1.585 at 11.37 am. I imagine that many many stop loss trades were triggered. That's why I don't use stop loss trades on SPL.

I was watching the Friday afternoon markets and saw the 2.30 pm SPL announcement about the Indian Vialeze registration and the prospects of what that could open.

At first I was intrigued by the timing of this announcement and the prospects it could hold. Its well known that Jackie is not a fan of BOTS and short sellers manipulating the SP.

Then it came to me. There is a saying that "Revenge is best served cold". Well how cold is an announcement delivered at 2.30 pm on a Friday when the following Monday is a public holiday. For us long term holders you've gotta love that.

On other SPL threads some have speculated that a follow up announcement next week concerning deals with India either or both government and private businesses, could be coming. I hope.

Because if it does then another saying comes to mind "Revenge is sweet".. maybe I am hoping for too much to soon.

After todays India announcement I thought It was about time to revisit the charts to examine what bullish signs of what could happen in the future so that I am not surprised by what plays out.

Anyway the short term weekly chart does not look that great, However because of the monthly charts (as I presented previously) I am looking for changes to the weekly charts over the next 2-3 weeks.

At present the only good signs are that the 40MWA still rising albeit slightly, that the weekly Stoch's have turned positive and RSI(5) is rising. Not great but a beginning

So the 10WMA is falling currently at 1.75 , next week it will be at 1.71. So my first bullish signal over the next 2-3 weeks will be the weekly hi-lo candle trading entirely above the 10WMA. Then the 10WMA should flatten and maybe start to rise. RSI(5) up to 70 from currently 47. Then followed by the MacD turning positive.

These are just my speculations so that I am not surprised by what plays out. As always DYOR.

Next week could be exciting? Who knows.

cheers Lies






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