Magic red Thursday, isn't it?
A tiny little Double Top or Complex Head and Shoulders was formed, the target is still within the bigger Rectangle formation I’ve been talking those days. So bear may still have some room to roar tomorrow, but overall the market is still within a range (Rectangle formation in our case) therefore theoretically the direction is still not clear. I’ll have to admit that all the negative divergences and 2 failed breakout attempts on the upside showing on the chart below, favor bears.
One trick tomorrow, when CPC < 0.7, a red day the next day 9 out of 13 times (69%).
