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Explanation of email being sent out

About 7:00pm, I sent out this broadcast:

Hi,
If S&P500 closed below this morning’s low, then high
probability a high is in place. After a high is a low. Therefore
tonight US market could be crucial.

and I got quite a few emails asking for clarification. Instead of answering one by one, I might as well let everyone know here in detail. Apologies as I wrote the email in a hurry which may have caused some misunderstanding.

Ok, what I am trying to say is tonight Dow Jones performance could be crucial. If tonight Dow Jones, especially S&P500 closed below yesterday’s low (which is 1397.2), it could mean that US market could be into a possible profit taking mood. And if it does close lower than 1397.2, the Ben Bernanke rally that happened on 26 March has been totally bearish engulfed, and that is not so bullish.
S&P 500

And if US goes into profit-taking mood, it may also affect Asia market into profit taking. For those in long position, set your trailing stop or cut loss level.




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