Wednesday, October 7, 2009

Wednesday 10/7/09 Market Update

Above is a 1 minute chart covering the last 4 days of trading. The market is in a similar position as it was yesterday. A correction appears to be playing out that may be wave (iv) of [i] of A of (Z) or [iv] of A of (Z). This means prices are within impulse wave [i] or A, respectively. If one of these is not playing out, the most likely alternative is a (b) or (x) wave within a larger corrective [iv] of C of (Y) of [2] wave. But in any case, the market seems destined to break above 1080.15.

blog comments powered by Disqus