Monday, August 17, 2009

Weekly Down Triangle issued for Nasdaq

A few posts ago, I came up with some reasons for why I felt equities were going to come down (which is healthy if you trade equities.)

And today, Market Club came out with a WEEKLY down triangle on the Nasdaq. This excellent video by Adam pretty much confirms my belief that equities are going to continue down a little before we break up for good. Below is an image from that video where Adam shows the same MACD cross that I spotted on Saturday. (Clicking on the image gives you a clearer view):


I just doubled my EUR/USD short position (2 Lots.)

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