Tuesday, August 17, 2010

8/17 12:20

For Fibonacci I am using the futures because so much of the extremes occurred overnight.  DJ futures 61.8% is 10,490.  This is 10,520 cash DJI. This is my target and the outer edge of the 5-minute, 380-unit M/A 1.35% envelope.  There is also a longer M/A in the futures at 10,490 now.  I won't wait for the last point to start going short. 
 

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