I agree, IMVHO, it doesn't matter who wins - we're ready for a correction to below 1300.
All indicators pointing downward - the USD, the volume in the markets, the VIX, the DAX, etc...
Check out this chart and if someone would be so kind as to post...
4 year chart, weekly candles, with 5 day and 10 day SMA's - if someone would have gone long and short with the crossovers, they would have produced a very profitable record.
Also on the weekly candlesticks - 2 of the last 4 weeks - big red candles and the other 2 are gravestone doji's... Interpretation = this is a solid downward channel with weak, unsuccessful reversal attempts. Since mid Sept. the red candles dominate the chart.
Also on this chart, the MACD has just turned downward - plenty of room for downside. Time to short and hold the spikes - most downward trends over the past 4 years have been approx. 3 months long and we're only a month into this one. Also, the average drop has been approx. 150 points and we've only gone approx. 60 points.
All in all, the chart says we may not need to watch the intraday action so closely... of course, we still will - it is our nature to study - but just saying have confidence and patience... PAYtience that a correction and solid downward channel is underway.
