SP futures ran up to the outer envelope of the 30-minute M/A. 1169.12 x .5% is a 30-minute close > 1175.25, which so far is the max 30-minute close.
Wednesday, October 20, 2010
10/20 noon
Stocks, silver, crude, and the Euro completed their expected retracements of yesterday's downtrend. Stocks and the Euro were much deeper than I expected.
SP futures ran up to the outer envelope of the 30-minute M/A. 1169.12 x .5% is a 30-minute close > 1175.25, which so far is the max 30-minute close.
SP futures ran up to the outer envelope of the 30-minute M/A. 1169.12 x .5% is a 30-minute close > 1175.25, which so far is the max 30-minute close.
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Top isn't in until the gaps get filled.
ReplyDeletesheesh, it's a freight train today. And a fast moving one. These POMO days sure look like a good bet to go long. (at least until that changes :-)
ReplyDeleteTL from August low that was broken to the downside yesterday and earlier today touched and bounced off (down) as market was heading up--that TL was just now penetrated to the upside.
Seems to me the wave count, the impulsive nature of today's move up, and the deep retracement all point to a new highs in stocks.
Anonymous
ReplyDeleteHow do you calculate gaps being filled?
Jack C