Friday, February 11, 2011

2/11 Daily Commentary

Margie's still in surgery.
I wanted to get out a quick post because I see one more high on the hourly chart before a 5 up is complete and potentially wave C from last year. The Composite has the same count on the Micro level.   Of course, it could still extend after the high, but I sold SSO at 53.74.
I'll be posting a Weekly tomorrow.
Posted by at

4 comments:

  1. Tom UKFebruary 11, 2011 at 3:14 PM

    Thanks Steve, hope all goes well and you have a good weekend.

    ReplyDelete
  2. Tom UkFebruary 11, 2011 at 3:15 PM

    Cheers Steve, hope all goes well and you have a good weekend.

    ReplyDelete
  3. pimaCanyonFebruary 11, 2011 at 5:05 PM

    Hi Steve,

    I1 doesn't peak until 2/22, so it would seem extensions will be the order of the day for the next couple of weeks, no?

    and then there's only a brief dip in I1 for a few days after which it continues up till late March.

    So once again, it seems that EWI's top call was premature--by a couple of months and who knows how many SPX points, 100, 200? I think 1380 is a lock, 1400 looks likely, and even tagging 1500 is a possibility.

    ReplyDelete
  4. AnonymousFebruary 12, 2011 at 3:02 AM

    What do you put the odds at of the bear market returning prior to I1 peak? Looking at some of the currency charts - notably the YEN, CAD, AUD, GBP - it looks like a reversal is imminent in just the next week or two, if it hasn't already started.

    ReplyDelete

Subscribe to: Post Comments (Atom)