Tuesday, June 8, 2010

6/8 pre-open

The SP futures completed their 5-wave decline last night.  Both the cash market and futures now have 5-waves complete.  I think it's time for me to go on a fishing trip.  The long-term signal stands until the beginning of July but the market is at serious support levels and I'm flat having sold at the bottom.  Several hundred DJI points lie ahead on the upside.  I don't want any part of them.  The only thing that would drag me into this market is SPX 1040 violation.
Posted by at

1 comment:

  1. Jack CJune 8, 2010 at 7:32 AM

    Steve

    Stay out of the gulf for that fishing trip. I’m staying short and I’m on high alert and looking for 1040 support to be broken or 1105 brake out to get out. Are you continuing with your commentary and wave counts? How do the other technical’s look to you, other then I1?

    ReplyDelete

Subscribe to: Post Comments (Atom)