Wednesday, September 15, 2010

9/15 11:15

The SP 30-minute M/A is best broken by a 30-minute close .5% beyond it.  This morning's decline fell to 1109, but there was no 30-minute close at or below 1110.30.  So we are still mired in 3-waves while the momentum turns.  This can be frustrating but it is part of the process when there is a strong trend intact on an I1 turn date.  Basel just added reflation fire. 
Fortunately, time is on my side.   The older one becomes the more that events are viewed in time.

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