Markets: A view to a kill

Posted: October 8, 2013 in Uncategorized
Tags: ,

The market is setting itself up for a kill (like the old James Bond movie). As you can see it has attacked three times Area 1,670. Usually it takes three to five times to take on a strong support. There is also a different action this time. The other two times, the last 5 minutes someone saved the boat (green lines) …this time the last 5 minutes  someone sank the boat.

The market now, to tell you the truth, is in neutral now. But below 1,670 there are the algorithm based machines programmed for automatic sell with target 1,625 (for Australian ASX200 4,927).

Personally I think that the market has been very complacent with the US Congress and their stupid squabbles and now is just to sound a wake up call. A view to a kill..as the graph shows 

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