Tuesday, April 12, 2011
The stock market came down to the envelope of the critical M/A, 12,395 - 1.35% = 12,227 vs. an actual low of 12,233.98. I bought NQ futures at the top of what turned out to be a minor 4th wave rectangle. SPX came down to within the envelope of it's 50-day M/A. I still dump all at 12,220 but my belief is that we finished a larger-degree 4th wave with a final wave to new highs. I'm 8% long SSO.