EOD 4th Oct 2012

-ve divergence persisting in Hour TF and still developing in day TF as follows

 

Day TA is OB and -ve divergence presently , last RSI high at 97.4 , if with prices making HH RSI goes above 97.4 then -ve divergence vanishes . If not now is no time for shorts one has to wait it out . I am not available tomorow to trade .If it comes then I will miss it .

5 Day ema at 5729 , weakness only below this . Other #s to watch
Today's low at 5751.55 and Day high ema at 5747.

Presently prices showing no weakness.
EW

Accordingly we still have (iv) (v) to do within iii , where iii will be over and then iv and v to complete the 5th wave . That would complete the 5 waves and then correction . IFF during all this process the -ve divergence persists with Day TA , OB we will get a golden opportunity to short for good gains . As the correction will be for the move from 5216 to the new high of 'C'.