Difficult times for trading systems. Most of the blogs indicate that the majority of the trading systems is on the bearish side right now. According to the put/call ratio the market is expecting more bad things to come. However, the ratio is already very bearish. I'm still more on the bullish side. For the next week however, I don't expect big moves. On the upside it's limited to the short term downtrend line and the neckline; to the downside the 50d MA should be a good support. If there is a surprise to come I expect it for the upside.
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