walkin-off-cliff

Is the selling every going to stop?  Yes… at least for a short while I believe.  I’ll make this brief, as I’ll do more research and post it on my weekend update.  I believe that we may gap down on Monday and rally back to close positive, or simply open up positive, sell off a little and rally back to close positive.

Either way, I think Monday will close positive or flat.  I think this move below the major support level at 1080 is to trap shorts.  I still see next week as a positive week, most likely creating our larger wave 2 as I posted on last weeks’ Weekend Post.

I’ve said throughout the week on different blogs with my comments that it should go back up to 112.00 area.  Since the sell off went so low, I’m not sure if it will make it that high?  Maybe, but 110 is more likely now.  We’ll see.  But for now, I’m still long on the USO, and don’t have any shorts right now.  I’ll reload next Friday most likely in anticipation of wave 3 down coming the following week.

Red