The month of June started with an important Monthly HH that took out also the High of April which is also the last Weekly swing High. For the longer term, this thrust is a bullish signal to get to the 2180 area, above the all time high of 2134. In the previous review we mentioned Read More

In the passing week, the Market has changed the picture by 180 degrees, and eventually the break down turned out to be a false break. What usually comes with it, is a major change of behavior. Instead of a sideways action, slowly crawling down trend, the reversal was fast and instantaneous (what makes it very hard Read More

After the shakeout in the first bearish setup (mentioned 2 weeks ago), that followed by signs of weakness, the most important Low before the high (at 2026) – throughout the whole up move since February this year, had been taken out. Unless we see this week contradicting signs of a false break down, and signs Read More

The market has lots of patience these days, and part of this kind of behavior is usually expanding the range it is currently in, which also means shaking out existing short term positions. The short position mentioned last week hit the stop level at 2077.75 only to see the prices turning to be weaker again. Read More

Last week we talked about the strategic view of the market at these days, and showed what the Quarterly chart can tell us as for the last two year big range. We mentioned that before a real bullish attempt to take the highs might occur, it is more likely to see some major correction down, Read More

The Quarterly chart (chart1) may be the key for understanding this large range. After a big momentum up, the price managed to take out the major Last Low Before High of point A (at point B). But instead of consolidation and holding in the lower range, the price did a remarkable recovery back up to the upper side of Read More