Saturday, August 1, 2015

Weekly Market Review K200

Daily : Downtrend.  Lower High Lower Low.  
  • K200 ended slightly higher, still above 244, after a small retracement or short-term uptrend move.  A break below previous low of 241.49 will confirm its continuation of downtrend move.
  • K200 is currently between 1st downtrend line and 2nd downtrend line.  Also, below its parallel projection of 1st downtrend line.  Unless strong indication of strength in retracement/recover, the bias is in the continuation of the current motion, downtrend move.
  • Friday is a long pin bar, almost touching the previous low of 241.49.  This is bullish provided Monday support it.
  • MACD are still heading down.  However, with the pin bar formed, if the next few days were up days, MACD may turn upwards, still validating the divergence.  

Weekly :Sideway.  Short-term Downtrend.
  • This week bar is still a inside bar for the long bar 3 weeks ago.  There is no other sign different from last weeks.  It is still downtrend until positive sign is shown on the chart.
  • MACD continues to head down and widening.  
  • Weekly remains bearish.

Monthly : Sideway.  

  • This month bar is bearish.  Short-term is downtrend continues.  Until we get a positive sign, it is still short-term downtrend.  Big picture is sideway.  The crucial support 240 and 230 will determine if we still have sideway market.

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