Monday, May 30, 2011

5/30 Monday Evening

I exited my short ETFs on the bottom day and am waiting for a last-gasp 3-wave rally to short the stock market again.
Thursday, Friday, and this evening completed the a and b waves of a abc up in the stock market.  SP futures up 6, Nasdaq up 12.
Things are working out according to script.  Wednesday mid-day is my ideal short day.  Nasdaq 2366 is a  good target, but much depends on the wave count at the time.  2366 will be a daily M/A on Wednesday.
In accord with the hourly stock market trend, silver looks destined to complete it's retracement rally at 39.30.  This is previous wave (iv) high and M/A.

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