Monday, May 2, 2011

5/2 10:00

Rally on news came after a 5 wave up completion, so it has no wave significance.  I spent the weekend on software and running cycle baselines.  I only run these every 5 years and each time I find opportunities for refinement.  I1 peak is past so I'm staying short with a stop beyond the Bin Laden futures top.
Silver has broken the 90-minute M/A and I'm staying short with a stop on a 90-minute close .7% beyond the blue line.
I'm driving into Albuquerque on the monthly supply trip.  See you this evening.

1 comment:

  1. Interesting candle painted today.

    The SPX is right at the last Fib line from 2007 to 2009 bottom.

    If that doesn't hold, it'll be on to new highs!
    But I think it'll hold.
    Good luck.