Aug 31

Weekend Outlook for 3rd September 2013 – Bears still in full control !

Rooar ! The bears took another nice strike this week after the mini rebound I suggested to 1670 area for members.

After we hit 1670 we started to sell off heavy again and ended the week down near the lows at 1630 !

I believe we are about to see another hard round of selling coming up – sharp sell off as soon we break below 1627 the previous lows. When we do this expect massive selling to occur in a short period. This is when people will start to panic as things are already oversold , but still keeps falling down ! That is panic move and this is how markets bottom.

VIX still suggest higher levels coming and a hard run to occur in the coming weeks……

USD still looks good and popping !

TLT us bonds looks bottomed and could rally , this is more like RISK OFF period.

DAX looks bearish and should hit 7800 the weekly MA50 , massive support

Expect SPX to break below 1600 and keep falling , possible down to weekly MA50 too at 1540 right now – massive support in this area.

All in all – I think the worst will occur in the coming weeks of September – US holiday on monday so will start trading at Tuesday.

Wont surprise me with a major gap down coming.

So far per PRICE/ACTION we can also tell that BEARS STILL IN FULL FORCE ,, You are seeing intraday charts that EVERY bounce has been sold off …. no impulsive moves to upside really , just weak bounces.

So far markets been following roadmap clearly !


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