Thursday, March 10, 2011

WooHoo!

Ok, enough celebrating, don't want a penalty in the end-zone.  Assuming that this is just a hiccup in an uptrend, we need to start looking for a bottom.  Nothing saying bottom to me here.  VIX has a magnet that will suck it into the top of the daily bands.  Watch the $cpce for an extreme reading. 

I made a little /ES count, but it's more of a guideline than a rule.  I think the gap represents a third wave and we're likely going to see some 4's and 5's that should be bought.  The Pomo schedule seems like a hint, and we might well decline into the resumption on the 15th of March, but it might get front-run.  The key here is that until proven otherwise, this is still corrective.


I'd like to think I've learned a few lessons in the market, and one would be to not be so attached to your counts, so I merely speculate at the current structure, while I am much more confident in the A-B notation.  We could see these counts expand into any number of possibilities.
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