Monday, May 11, 2009

Danger! Be careful


STI is currently near a resistance as seen from the insert and we are now faced with a gap to cover.
Last Friday we had a selling volume, if my chart is right, and a spinning top on resistance.

In my opinion, we are now at another critical level which might decide if this will become a bearish or bullish scenario. For me, as long as Monday did not break out.. it's bad. But to not be so negative, Wednesday should be the latest we will see any movement.

Personally, I'm still in the camp of... we are too optimistic. Ha! I'm sorry.

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