We got our answer. An abc down was all this cycle would give and it reinforces the view that a triangle or rectangle Minor 4 is probably in progress. The intraday count is wave (iv) of Minute 1 up.
I sold 6% SDS at 26.50, sold 2% QID for 12.68, and sold the ZSL for 13.56. I'm still carrying 4% SDS until the market breaks critical resistance. This is DJI 5-minute, 370-minute M/A +1.35%, or 11,275.
I'm going to bed, last night was a no-sleep night.
I'll be driving my wife to catch a plane to Boston tomorrow. I'll catch up at the hotel.
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SPX
ReplyDeleteChannel widened but still down.
http://99ercharts.blogspot.com/2010/11/spx_6644.html