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Still Awaiting Confirmation--Market Update, Forecast, and Outlook

Posted on the 01 August 2013 by Souljester @souljester618
Just an update as I await confirmation of a break down into the cycle scenarios. Here is still the overall thesis where I discussed that the market needed a close below the 13 EMA on the daily. Awaiting Confirmation Post. The market has held the 13 EMA and the weekly low in IWM. Here are the updated charts: Still Awaiting Confirmation--Market Update, Forecast, and Outlook Still Awaiting Confirmation--Market Update, Forecast, and Outlook If the scenarios are correct, this is the one more thrust up discussed in the Awaiting Confirmation Post.  With the 13 EMA turning up, and the MACD putting in a higher low, the market remains short term bullish with today's move.This potential was anticipated and understood in the July 15, SPY Chart. We are nearing the potential full move and the market may want to go the distance. As always, I am staying present and not guessing at whether it will go the distance. I await confirmation. I cleared out of all currency trades early this week per the Twitter posts. I am staying in the the Wonderwood short positions because though early nothing has changed thesis wise. As always, I will post when they are exited. Peace, Om, SoulJester

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