Wednesday, June 8, 2011

6/8 noon

Last post until I arrive home 7:00 EDT.  It will take an hour to crunch numbers so the Daily will be around 8:30 EDT. 
SPX and Nasdaq are at 150-day M/A, DJI and Nasdaq are testing 4/18 lows.  So far the bounce from yesterday's low has been weak and I believe that this is an indication of supply overhead.  The short-term timing component gives up the ghost to the downside at the close tomorrow.  SPX should show resistance at it's 15-minute M/A.
SDS stop is now 1.12% below it's 15-minute M/A, currently 21.50.
The dollar is now in what I count as a 5th wave up. 

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