Tuesday, July 6, 2010

7/6 pre-open

I1 bottom is in.  The SP futures double-bottomed last night on a 3-wave.  My count is correct and wave Minute 1 of Minor 3 is complete.  The rally is a straight line off of the low at 1004 to 1029 currently.  This is a launching rally which will run into resistance here.  I bought SP futures on breaking 30-minute M/A resistance.  Will buy long ETF on a reaction.

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