The market is not behaving as I expected it would if it's playing out that Ending Diagonal we've been talking about.
Can a subwave of an ED unfold as a double zigzag instead of a simple zigzag? If so, maybe that's what's playing out here.
Alternatively, maybe we're in the midst of a complex corrective pattern which would likely be a 4th wave. And this 4th wave would have started way back at the Oct 13 top and is some kind of running correction. If this is the count and if the 5th wave up has not even begun, we're likely to blow right past the April top.
Do you mean you shorted gold at 1364.90?
ReplyDeleteYeah, I changed the post. Thanks.
ReplyDeleteWell, the boys are giving it all they got in the early hours in Asia.
ReplyDeleteBastards.
You timed that very well!
ReplyDeleteJust tried a short on DJIA, with a stop 20 points above the April high.
ReplyDeleteI think today is a day to fade, and a strong sounding PMI could help the Fed to pass on QE for now.
Ideal.
Uh oh Steve.
ReplyDeleteI'm hoping Bernanke hasn't sent the boys around to see you!!
Hope everything is ok though.
Hope all is well with you, Steve.
ReplyDeleteThe market is not behaving as I expected it would if it's playing out that Ending Diagonal we've been talking about.
Can a subwave of an ED unfold as a double zigzag instead of a simple zigzag? If so, maybe that's what's playing out here.
Alternatively, maybe we're in the midst of a complex corrective pattern which would likely be a 4th wave. And this 4th wave would have started way back at the Oct 13 top and is some kind of running correction. If this is the count and if the 5th wave up has not even begun, we're likely to blow right past the April top.
Gary, Ben's boys came around but I got off lucky. My legs will heal in a couple of months.
ReplyDelete