Looming 2-Day Cloud

30 thg 7, 2013

My long position from the 2nd bottom in early July is now far into the daily-scale range. With this last increase almost through the 1-day cloud, there aren't many bearish Ichimoku indicators remaining on the 4hr and 1D. I decided to search for other bearish indicators on the multi-day scale and found a huge bearish cloud which is a remainder of the 266 bubble. Jimfred I think you are right, and this bear isn't quite dead yet, and there it is.

I'm still long until we reach this 2D cloud (on approximately 8/10 112 if the current trends hold), at which point I will likely close my long position. We will still have bullish 4hr/1D going, but I think we are going to struggle here for awhile which will make the bears happy again. Hopefully the bottom won't fall out this time.