Merval: Projected pathway

25 Jan 2016

This is my current forecast for the Merval index. I'm looking at a new leg down, to retest the Vix spike retracement support level cluster below.
I propose a wide stop long off the level below, but we could also take a short term short as depicted on chart and unwind and flip long.
You can check my previous forecast in the related ideas below.
I'm republishing with the original projection so you can see how it fared. Not bad, huh?

Cheers,

Ivan Labrie.

29 Jan 2016

Catatan

We might not test the support below.

1 Feb 2016

Catatan

Blasted through resistance and following the projected uptrend path for now, it might make a lower high and swing for a lower low still though.

2 Feb 2016

Catatan

Merval hit the vix spike resistance level, let's see how low it goes.

3 Feb 2016

Catatan

Retracement started, I'd hold off on further longs for now.

6 Feb 2016

Catatan

Merval has broken the resistance above (Vix retracement level).
It'd be interesting to see if it doesn't fall with everything else next week.

9 Feb 2016

Catatan

Merval keeps grinding up on a weakening peso.

12 Feb 2016

Catatan

Consolidating here is good, we might see more upside from this zone.

27 Feb 2016

Catatan

Resistance and also the projected target from the low was hit.
It's possible to see a deep retracement now.

4 Mar 2016

Catatan

This might be a good exit for longs.
At least trail stops in profit if you're in it. 13053 is a good idea.