Press Pause

➤ Small rebound as expected. Prices likely to remain around current levels for a short while.

➤ I remain 100% in cash waiting for the next entry signal. 0% exposure means a wait and see approach with no directional view for the time being. The maximum exposure is +/- 200%, the level of highest conviction.

➤ Still expecting the market will have sufficient strength to re-test the high of the upthrust but end with a LOWER HIGH (LH). The LH is the last gasp of the Bulls. If the LH forms below the lower resistance level we could see a very quick sharp fall to test the lows of this year.

➤ Conclusion: Waiting patiently for the next entry signal.