Gang, since they gaped over the 1320 area I spoke of the video it looks like we are now back to an ABC move up to complete wave 2 up. This would be 1344 down to 1294 as wave one, with 1294 to 1332 as wave A of wave 2 up, and then 1332 down to 1302 as wave B of wave 2 up, and now we are in wave C of 2 up.
As long as we don’t take out the 1344 high, this pattern is still valid. As for going short again, I’d wait until the last couple of hours of the day to let the short term charts all get over bought again.
Gang, since they gaped over the 1320 area I spoke of the video it looks like we are now back to an ABC move up to complete wave 2 up. This would be 1344 down to 1294 as wave one, with 1294 to 1332 as wave A of wave 2 up, and then 1332 down to 1302 as wave B of wave 2 up, and now we are in wave C of 2 up.
As long as we don’t take out the 1344 high, this pattern is still valid. As for going short again, I’d wait until the last couple of hours of the day to let the short term charts all get over bought again.
Turning into a nice wedge pattern. I’ll be surprised if this rally lasts all day. Amazing how easy everyone falls for some obviously contrived BS story about Hugo Chavez brokering a peace deal.
awesome.. made lunch money today lol….
awesome.. made lunch money today lol….
Gang, since they gaped over the 1320 area I spoke of the video it looks like we are now back to an ABC move up to complete wave 2 up. This would be 1344 down to 1294 as wave one, with 1294 to 1332 as wave A of wave 2 up, and then 1332 down to 1302 as wave B of wave 2 up, and now we are in wave C of 2 up.
As long as we don’t take out the 1344 high, this pattern is still valid. As for going short again, I’d wait until the last couple of hours of the day to let the short term charts all get over bought again.
Gang, since they gaped over the 1320 area I spoke of the video it looks like we are now back to an ABC move up to complete wave 2 up. This would be 1344 down to 1294 as wave one, with 1294 to 1332 as wave A of wave 2 up, and then 1332 down to 1302 as wave B of wave 2 up, and now we are in wave C of 2 up.
As long as we don’t take out the 1344 high, this pattern is still valid. As for going short again, I’d wait until the last couple of hours of the day to let the short term charts all get over bought again.
Here a FP of the Nasdaq at 2343 this morning…
http://reddragonleo.com/wp-content/uploads/fp-nasdaq-2343-on-03-03-2011.jpg
Thanks David.
And also gang, please try to get the time and the volume on these prints. This tells me if they are real or not?
And……oil comes right back!
Wow, that’s big.
Turning into a nice wedge pattern. I’ll be surprised if this rally lasts all day. Amazing how easy everyone falls for some obviously contrived BS story about Hugo Chavez brokering a peace deal.
The spy FP showed up at 8:08 am, with a volume of 5,000 shares…
http://reddragonleo.com/wp-content/uploads/fp-spy-123-03-with-5000-volume-on-03-03-2011.jpg
SPY Triangle pattern: http://niftychartsandpatterns.blogspot.com/2011/03/spy-triangle-pattern.html