Sunday, November 23, 2014

FKLI -  Watch Out For New Sell Signal - 11/24/2014

Displaying OD FKLI D.png 
Market went back up during the mid week and went briefly above the middle band which closed off my short positions. But it did not manage to go further up but instead drift downward again and closed below the bottom band again on last Friday. The MACD remains negative and below the zero signal line while the Stochastic has turned positive. The DMI is negative with the D- rises and D+ falling again. I would sell again if price can go below 1808 in the coming week.

Displaying OD FKLI W.png

Price closed below the bottom band for the second week at the weekly chart. The MACD stays negative and below its zero signal line and it is still falling. The Stochastic continues to rise. The DMI stays negative with both the D+ and D- hooking down. This is also telling us that both the sellers and buyers are not playing.  ADX is staying flat at 19's for the third week. All these indicators behaviors are telling us that the market may be caught in a range bound situation. But overall it is still a bearish bias situation.
I remain extremely bearish on this market and continue to place more weight on the sell signals over the buys. The  fast depreciating Japanese Yen, strong US Dollars and falling oil may bring down  many emerging markets .

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