The monthly oscillator is showing strength and monthly prices are in an uptrend.
The oscillator on the weekly chart is showing a lukewarm uptrend. The prices are still in a basing mode.
On a short term basis (daily prices) the oscillator is weak and the prices are basing. However the prices have not cut the prior low.
The possibilities are as follows:
1. The prices undercut the prior low next week then we are in a short term downtrend.
2. The prices do not undercut the prior low next week and move up. Then we are continuing our basing or consolidation of daily prices.
So we repeat what we said last week, stay fully invested for the long term. For the medium to short term do not add any new positions and aggressively sell your weaker holdings.
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