15th November - World markets look shaky
19 November 2012
TECHNICALS:
WEEKLY CHART
The market is struggling to hold on to the Highs of 2007, 2009, 2010 and 2011.
DAILY CHART
The drama of the daily chart is unmistakable. The pause at the Neckline looks set to break down.
A complex top may have completed – suggesting moves down to 1630.
The coincidence of the neckline with the Fibonacci support adds force to the bear case on a break of the Neckline.
(Note the existence of two Key Reversal days…)
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