rapidly ascending 90-minute, 110-unit M/A. Currently 17.91 - .7% = 17.78. I expect the silver to accelerate after April 22, so using the more rigorous criteria of a longer-term M/A break may make sense to traders desiring more than a 3-4 day trade.
Friday, April 9, 2010
4/9 pre-open
June futures have rounded out their 3-wave upward move. Handing over to cash with the stop set above Tuesday's high. However, opening volatility expands it slightly to SPX 1193.10. The 5-wave decline yesterday is what I am hanging my hat on. Does this mean that SPX cannot make a slightly greater high than yesterday? Technically, no, but it means that yesterday's low will be violated.
The silver trade set-up is a 90-minute M/A of May futures. The trade goes off on an decline .7% below it's
rapidly ascending 90-minute, 110-unit M/A. Currently 17.91 - .7% = 17.78. I expect the silver to accelerate after April 22, so using the more rigorous criteria of a longer-term M/A break may make sense to traders desiring more than a 3-4 day trade.
rapidly ascending 90-minute, 110-unit M/A. Currently 17.91 - .7% = 17.78. I expect the silver to accelerate after April 22, so using the more rigorous criteria of a longer-term M/A break may make sense to traders desiring more than a 3-4 day trade.
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