Thursday, August 26, 2010

8/26 2:35

The 15-minute, 380-unit M/A was the floor for the descending triangle.  It has been on a buy signal since yesterday.  A switch to a sell signal will occur at SPX 1046.30. 

3 comments:

  1. Hi Steve
    I am up 12% so far on this swing and have flattened down to my core. I think we are on the same wavelength looking for the exit. To me the odds say down opening on the bad GDP news to wash it out followed by a rally. Plus the odds of some Fed move to juice it seem high as well. You said your out would be 10981, did you mean 9891 on the Dow?
    Thanks
    Charles

    ReplyDelete
  2. Hi Charles
    Yes, I meant 9891. This should complete the Minuette 5-wave down.

    ReplyDelete
  3. Steve
    are you keeping your core?
    Charles

    ReplyDelete