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Saturday, 23 November 2013
France CAC 40 Index: 23 November 2013, Saturday, 10.58am Singapore Time
France CAC 40 Index: 23 November 2013, Saturday, 10.58am Singapore Time Chart Courtesy of Chartnexus
If the anticipated sell-down had been executed last week or 2 weeks ago worldwide as per warned, it would had been merely a short-term shallow correction.
However, the dark clouds worldwide refused to rain, and instead stored for even more dark clouds. This means that the rain that comes will not just be a light and short shower; instead, it will switch gear to become a mid-strength heavy rain.
The duration of the rain that comes will also not be just be a short-term shallow one, unless it is a heavy downpour which clears the dark clouds in a shorter time. There are now clearly more efforts spent in shorting by the Big Hands, Smart Money and Market Movers worldwide. And when efforts come, especially if it is determined effort, the results (hammering) will come too.
Donovan Norfolk Ang Rating:
Bearish at the current high point until I turn bullish for reversal again.