Friday, May 28, 2010

5/28 12:07

I use DJI 150-minute +/- .4% to calculate breaking short-term support. Frequently this brings an immediate spill. Not in this case. As long as this M/A is not broken by 40 points to the upside the sell is in place. I saw a 5-wave up and took the pullback. Currently this resistance is 10,200 + 40. So with this method hold short until 10,241. I think we are in the B wave, but I will re-short at SPX 1101.

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