Stock market remains mired in abc, probably tracing out a B wave. Our line is drawn in the sand as far as critical support. 10,119 - 1.35% is 9,980, but this is just the other side of 11,000 round-number support so let's say 9,975.
Gold is forming a wave 4 rectangle, so I want to stand aside of gold and the dollar until the gold top is in.
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Have a great weekend, Steve!
ReplyDeleteTime for a little R&R in preparation for Monday.
Next week should be fun!
You all have a relaxing weekend. Sunday night is the start of the action.
ReplyDeleteSteve
ReplyDeletelooks like aapl and amzn may have already turned as market leaders which could give us a clue. On vacation in SF so having to adjust to the two hour time change. Have a good weekend!
Charles
SPX
ReplyDeleteDiamond Top from before the open.
http://99ercharts.blogspot.com/2010/10/spx_29.html
SPX
ReplyDeleteDiamond Top just before the close; the pattern held.
http://99ercharts.blogspot.com/2010/10/spx_7545.html
Have a great weekend!
USDJPY
ReplyDeleteDouble Bottom and backtest of Falling Wedge. Bullish!
http://99ercharts.blogspot.com/2010/10/usdjpy_29.html