Monday, June 28, 2010

Top40 - end of the week update


It looks like volatility in our market dried up with the start of World Cup. ATR is back below 2% (10-day ATR) and it is pointing down very much. Will see what is going to happen in remaining two weeks.

Top40 tested high around 25300 on Monday, but it did not break it. Trend line connecting two highs (from April) was around same level. After failure to break above, Top40 got sold off for the remaining of the week, recording four red days in a row and closing week at 24263, which is below 200 simple moving average.

Stochastic turned down and currently is around 64, relative strength index is pointing down as well, but it is still above trend line that was made with positive divergences. Macd is above zero and signal line, but as well pointing down.

Coming week can bring us two scenarios: First one is another attack on trend line with high around 25300 and this time 89 simple moving average is there as well. On the bearish side, market can sell off even more and test 22900-23000 level one more time.

Moving averages, which help us to determine long, medium and short-term trends:
  • long-term (200sma) - DOWN
  • ntermediate (89sma) - DOWN
  • short-term (10ema) - DOWN
 
Trade with trend!

5 comments:

Warren said...

hi, I was wondering if it is possible to contact you via email ? Many Thanks

Warren

Alsi Trader said...

Hi Warren

You can contact me on:

millenicom (AT) gmail (DOT) COM

Anonymous said...

Your style is very unique in comparison to other folks I've read stuff from. Thank you for posting when you've got the opportunity, Guess I'll just bookmark this site.

Here is my web site :: microsoft registry cleaner

Anonymous said...

I know this if off topic but I'm looking into starting my own blog and was curious what all is needed to get set up? I'm assuming having a blog like yours would cost a pretty penny?
I'm not very internet savvy so I'm not 100% positive. Any recommendations or advice would be greatly appreciated. Appreciate it

my blog post :: bmi calculator for adults

dong dong23 said...

ray ban
louis vuitton outlet
christian louboutin shoes
pandora jewelry
tory burch flats
ray ban sunglasses
true religion
coach outlet
coach factory outlet
christian louboutin outlet
tiffany and co
hollister clothing
ray ban sunglasses
michael kors outlet
michael kors handbags
tory burch sale
michael kors outlet
mont blanc pens
louis vuitton outlet
coach factory outlet
insanity workout
louis vuitton handbags
coach outlet
cheap oakley sunglasses
abercrombie & fitch
coach outlet online
louis vuitton handbags
adidas trainers
coach outlet
coach factory outlet
nike outlet store
coach outlet
oakley vault
cheap jordans
tods shoes
beats wireless headphones
true religion jeans
burberry outlet
designer handbags
kate spade handbags
20165.13wengdongdong