Friday, May 21, 2010

5/21

The wave iii bottom is probably in or with 1 more low.  I am going to wait for Monday for wave iv to correct the decline from SPX 1150 on the 18th.
Posted by at

3 comments:

  1. Jack CMay 21, 2010 at 7:01 AM

    Steve

    Is this bounce this morning the wave 4 correction you were looking for?

    ReplyDelete
  2. Steve KotelesMay 21, 2010 at 7:35 AM

    Jack
    Yes this is the wave 4 I was looking for yesterday but I miscounted. The senate passing the bill spooked the market in the final hour. Now I'm back in sync with the wave count and I should be able to short at good prices. I had a tiny bit overnight and took that profit this morning, so I'm waiting....

    ReplyDelete
  3. Steve KotelesMay 21, 2010 at 7:37 AM

    I'll hold to 6/8, but we are in wave v of 1 of (3). This means that since the 4/26 high we are coming into the low of the first 5-wave.

    ReplyDelete

Subscribe to: Post Comments (Atom)