Wednesday, June 23, 2010

6/23 Daily Commentary

Reclassified wave count to correspond with Nasdaq and SPX as 4th wave down complete.  I bought 3% SDS after the close at 33.75.  The stock market missed my shorting point on the rally of 10,274.  The DJI fell beyond the outer range 1.2%, thus issuing a sell signal.   Here is the lastest count:


Currently short 4% SP Sep futures, long 3% SDS, long 5% TLT.  It looks like the market is ready for the next leg down.  Here is the 10-minute futures M/A which guides a short-term trending market:

The next larger unit of trend is the 30-minute:

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