The market successfully lived through the US employment data and closed firm. Volume was light. This uptick is a good omen but it still does not detract from the Type-A Bearish divergences that are slowly unwinding. Remembering that Type-A Bearish can mean one of two things; a sharp reversal or a price stall. In both instances the secondary high should not be overcome. It may well be that we’re seeing the latter here, a sideways stall. Many people are talking about September being a bad month for the markets, but the fact that so many are talking it down may mean its going to go higher. If the divergence unwinds without any great sell-off fanfare then perhaps we need to be ready to ride it higher. I have 3 new setups on the long side. All are larger base breakouts and all have slightly wider stops to stay out of market noise.
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Suite 1/ 21 Sleepy hollow Drive
Noosa Heads QLD 4567
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