Friday, February 13, 2009

Todays cycles

We did hit an important LOW at 3pm yesterday - spx 808

The rebound end of day consider wave 'a' and only part one of 3 you know a-b-c

Today so far looks like 'b' low and the close today including Tuesday's open
should be wave 'c'

Bar cycles today
120b @ 10;30 dow off 35
150b @ 1pm or 156b @ 1;30 dow off 80
180b @ 3;30

11am was a high & turned lower
1pm is a LOW so far, has turned up a little at 1;20
3:06 pm
Power index shows a strong close as well as Tuesdays morning

I am adding at each successive low which is called scale trading expecting the end result to be $$

the rebound was 235 pts off the 3pm low
thus a setback or "b" wave should sell off up to 38.2% or 90 pts
taking the Dow back down to 7845 area
THAT was the LOW so far at 1pm

Now off 57 at 1:25 pm
Vote on STIM to start at 1:30
Amazing how this type of thing fits into the wave

More Later

1 comment:

Anonymous said...

For some reason market didnt want to go up despite having several starts. Now a nice base seems to be building for upward move - is that what you are expecting for tuesday?