The Nasdaq is breaking out, so wave iv is not a rectangle but a zigzag up. See the head-and-shoulders?
Tuesday, June 28, 2011
6/28 10:00
Sitting on our hands is no fun, just like generals waiting for the time to execute an offensive. No wonder they smoke cigars! I have to let the bulls have their fun and chum it up at the watering holes after the close. Their feel-good time lasts through Thursday and until then I get to practice my panther pounce.
The Nasdaq is breaking out, so wave iv is not a rectangle but a zigzag up. See the head-and-shoulders?
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I have liberty to go long but I won't because I want to keep perspective on the upcoming shorting opportunity. I won't let charts guide me, I'll let the clock do the job. I'm working on software in the interim, but keeping an eye on the indexes.
The Nasdaq is breaking out, so wave iv is not a rectangle but a zigzag up. See the head-and-shoulders?
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Hi Steve:
ReplyDeleteI that Fire New Mexico anywhere close to you? Or is it South of your location? You are doing great work l!!! Look forward to the shorting opportunity.
Mark S
Consumer confidence number came out at 10am - very weak, well below consensus. Market completely ignored it. Very bullish - for now.
ReplyDeleteMark,
ReplyDeleteAngel Fire is north, near Taos. I live on the Divide north of Rt. 60, west-central part of the state. I'm having a hard time waiting for the short point, too.