OVERDONE OVERTURNED A BIT

Wow ......relief rally came despite huge glomminess thru the weekend..All and everyone were jumping over one another to give newer lower targets for this monday..well markets are markets, the footprint of the friday trade of higher lows..3198-3209-3258, held as I had written & also the uncoiling of the oversold positions was to take place , we rallied up doing higher highs throughout the day....Good thing is there was no huge selling in the last hour of trade. Technicals do help and its proved again today, only interpretation of signals is required..Hope people have benefitted from the technicals posted here.. So where to from here ..the speed lines will still remain valid..lets see how the drama unfolds in US markets today. Enjoy the good day today...cheers.

CONSOLIDATION WEEK

The speedlines/retracement levels are self explanatory, the damage is very severe and will take its own time to recover. Keep a check on higher lows/highs for direction of the market..All indicators are oversold and can turn anytime, specially this time the faster indicators in daily/weekly/monthly may turn up together which can give a good relief rally, which if held can become a bigger rally..one can pick shares of significance for quick profits in such rally..with sincere wishes for a nice weekly close this week.. ...cheers..