Weekend Market Analysis 08/02/2014 [HD]

It is not unreasonable to see a bounce from current levels if the daily charts are to confirm the same levels of support that have been VERY successful for many months.

Now we see some of the emerging markets that seemed so strong a week ago look like they might have managed to successfully trap us in those trades. The emerging market charts show a potential to destruct so we have to be cautious and open to the idea that they could very easily stall from here.

We see some serious damage in the monthly charts on some sectors so it could be that we can bounce on daily charts but still be within a new downwards trend for many many months to come.