Thursday, October 21, 2010

10/21 11:50

Bought DX at 77.37.  The high was 77.54 but the wave count is now 3 up with a 5 possible as long as 77.32 is not broken.

10/21 11:30

Got a 5 up on the DX.  This greatly increases odd of breakout beyond 77.52 and supports stock market decline for the next hour.  Buying DX 77.35

10/21 11:24

Sold DX 77.38.  Have a buy stop 77.52.

10/21 11:03

Bought 1% DX at 77.24.  Selling at 77.42 and buying again on a stop at 77.52.
Reason: just got a small 5 up and 77.24 is at a M/A.

10/21 10:45

The count on the dollar is 3 up from last week's low, making a buy signal by piercing it's key short-term M/A.  It then completed a 3 down without rescinding the signal by declining .45 points beyond it's M/A on an hourly close.  At this point the M/A is 77.60.  Any hourly close below 77.10 will be a new bear signal.  Meanwhile a 10-minute M/A is declining fast and is currently 77.43.  I'll be buying a DX at 77.13 limit or 77.52 stop.  I'll be adjusting the stop price as the M/A declines.  If filled the stop will be hourly close < 77.10.  If taken out then DX is destined to hit 76.12.