HGSI DOC Top Down Review 8.03.2014
What a week. Many are calling for a top as the market had been climbing its proverbial wall of worry. Then came Thursday and the market had its long anticipated shakeout. Was this the top? Is it time to go short or was it just another of the frequent shallow pullbacks. I will review the past week and discuss how I am going to handle the coming week as I demonstrate HGSI and some of my other favorite tools.
There were many doji formations on the close and many at natural support. I give many reasons for a bounce this week. What will be a bigger question is whether or not we take out prior highs or we continue in this topping process if we do get the anticipated bounce..