The market loves to make most of us look stupid often. All what we do- chasing the market, is something like adoring a girl. Don't you think? We try to follow every market move like the girl of our life. And often we got hurt by that girl, trying to pay her all of our attention and love.(sorry girls, some man point of view )I think flirting with the market only, is the best way for success. Some people have the flirting as a gift. There is only one rule for them- doing for fun, and no matter what's the exit.(leg over or nothing)
Friend of mine (Ivo Gruev) wrote a book named " The Bourse- Flirt or War" It is written there about the people, who would have the courage and patience to make two things: to overcome their own ego and get friends with the stock market. But it's published in my native language only.
However let's do some work, " flattering our love".
I don't know am I wright, but I saw a possibility in European indexes. Last two hours I was "in private" with STOXX50, and a small lamp blinked over my head. By the way, in one hour bars most of the European indexes look oversold according to RSI.In that time frame the longer lasting clues and signals are not so reliable, so I am not so sure.
There is something suspicious about that wave (2) has began from that level. Nasdaq100 didn't even touched Fibo38.2% before today's leg down.Usually it makes very deep corrections.
Have a look at this chart:
Good luck!
