Tuesday, July 13, 2010

7/13 11:00

The count from the low of 7/2 counts as either a complete ABC or as wave Minuette1 of C is complete.  Since this wave off of the B low is so large there is a top that is coinciding with the 220-day and 56-day M/As.  This is tradeable.  Since I1 continues to climb until 7/21 I will buy at the 5-minute, 380-unit M/A which should be the minimum retracement.  This rally is kaput at 5-minute, 380-unit M/A -1.25%.
Here are the daily cash M/As:

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