Thursday, November 18, 2010

11/18 Daily Commentary

We got our answer.  An abc down was all this cycle would give and it reinforces the view that a triangle or rectangle Minor 4 is probably in progress.  The intraday count is wave (iv) of Minute 1 up.
I sold 6% SDS at 26.50, sold 2% QID for 12.68, and sold the ZSL for 13.56.  I'm still carrying 4% SDS until the market breaks critical resistance.  This is DJI 5-minute, 370-minute M/A +1.35%, or 11,275. 
I'm going to bed, last night was a no-sleep night.
I'll be driving my wife to catch a plane to Boston tomorrow.  I'll catch up at the hotel.

1 comment:

  1. SPX
    Channel widened but still down.