Normally I wait for 10:15-10:30 to determine the trend for the day. I stepped into a short position early based on what appears a 5-wave down. Also bought 1% SDS at 31.20. Behind the DJ futures trendline is an hourly M/A that will be my target. In the cash market 10,605 is the 5-minute, 380-unit M/A that is the target.
After this quick short I will wait for hourly support and the 5-minute, 380-unit M/A to be broken.
Got 10,609 on the short.
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Steve,
ReplyDeleteDavid Banister sees us in an ending diagonal triangle. Would you concur?
Charles