The 15-minute, 380-unit M/A was the floor for the descending triangle. It has been on a buy signal since yesterday. A switch to a sell signal will occur at SPX 1046.30.
Hi Steve I am up 12% so far on this swing and have flattened down to my core. I think we are on the same wavelength looking for the exit. To me the odds say down opening on the bad GDP news to wash it out followed by a rally. Plus the odds of some Fed move to juice it seem high as well. You said your out would be 10981, did you mean 9891 on the Dow? Thanks Charles
Hi Steve
ReplyDeleteI am up 12% so far on this swing and have flattened down to my core. I think we are on the same wavelength looking for the exit. To me the odds say down opening on the bad GDP news to wash it out followed by a rally. Plus the odds of some Fed move to juice it seem high as well. You said your out would be 10981, did you mean 9891 on the Dow?
Thanks
Charles
Hi Charles
ReplyDeleteYes, I meant 9891. This should complete the Minuette 5-wave down.
Steve
ReplyDeleteare you keeping your core?
Charles