Friday, July 23, 2010

7/23 pre-open

The stock market yesterday re-visited the 220-day M/A.  So, apart from the declining I1 and the wave count we have another reason to be sellers here.


The official kickoff to this game will be a decline 3.5 points below the blue line on a 10-minute closing basis on the following 10-minute chart of SP futures.  That would currently be any 10-minute close below 1086.
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2 comments:

  1. AnonymousJuly 23, 2010 at 6:04 AM

    Steve

    I’m targeting DJI 10250, SPX 975 by 7/28, what do you think about these targets?

    Jack C

    ReplyDelete
  2. Steve KotelesJuly 23, 2010 at 8:11 AM

    Jack
    I think the Feb/May lows are a target for this next move. It will be a big move to move down to 1010 SPX in the short time frame. That's 85 points from current.

    ReplyDelete

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