Monday, November 29, 2010

11/29 10:30

SPX 1173 held.  The triangle is composed of clear 3 waves.  If SPX forms 3 up and 1186.93 is not penetrated to the upside then this E wave will complete the triangle.
As long as I1 is in uptrend I am reticent to short stocks, but if the E wave completes I can short on it with a stop at 1187 and limit risk.

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