Weekly's Market Random Thoughts

The market bullish sentiment is on idle situation with that bearish red bar with a long wick tail. Though it recovers heavily within a week, but I guess there is this tendency/sentiment from participants that there is a possible consolidation in the offing. It might drop a little bit but nobody knows, but that bar is a big concern. But from this humble market observer's point of view, the market is still on the way up with that (deep) cup with a handle pattern.

As for the Gold, that's the hardest part to make a view from the technical side, it's way too low from the ema's/ma's. I guess it might take a long time to get back from the three consecutive days of 'hard' setback. Three days of hard drop is going to take a while to recover, no idea what Gold will do from this scenario. Will take it day by day, let's just wait and watch how the HFT's miraculous ('maneuveristic') approach might/will do.

As for the Crude, it will be a long zag and zig days to come, a consolidation of hard bounce and a hard drop. It will be a day to day battle between participants, with the advantage going to those participants who has the guts to stay patient and watch the move like a hawk to their advantage.