Wednesday, August 18, 2010

8/18 Daily Commentary

The count up from this morning's low was a 3 wave.  A simple ABC to correct yesterday's decline.
I dumped 2% SDS and 2% QID when DJI crossed it's 61.8% retracement.  That leaves me with 6% SDS, 6% QID, and 2% NQ futures.
The count shows even more clearly in the Nasdaq Comp but here is the SPX:

I'll feel more comfortable once SP futures close .5% below their 30-minute M/A.  They have declined to their 30-minute M/A right now.   The launch for this morning's rally was SP futures at 30-minute M/A:

No comments:

Post a Comment