Monday, October 18, 2010

10/18 8am

We got the long-term buy signal on the dollar index.  It has completed a 5-wave up and is due for a 3-wave pullback to about 77.27.  This signal is the bell-ringer for all markets.



I shorted silver last week 24.80, covered 24.225, and shorted again on the breakdown from a descending triangle.  This triangle never got the EW 5 sub-waves but I can apply measurement nonetheless.
Stock indices did not rally to my stated shorting point so I am still flat SP futures.  I have a 5 up from the overnight low here so I'll stay flat until another 5 up is complete.

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