Chart from Columbia - thanks MichaelWave1 of 3 about to start this Monday
wave 2 of 3 by Friday
Wave 3 of 3 begins late Friday of early Monday, March 8th
OR
we could see a "B" wave lower on Monday/ Tuesday to 1070
then recover in C wave back to 1100 by Ths/Fri
Either way next week should be NO less tricky than last week
Jay
It doesnt look like Im going to
ReplyDeleteget a plunge Monday
Anything serious is going to have to wait till the 8th
Jay
I would say it's too early to tell
ReplyDeleteNo I believe Jay is right. Monday could be a trend up day all day and into Tuesday. This is more reinforcement for the Feb 25th low.
ReplyDeleteand I agree with the 8th or thereabouts as well for a top for March.
Don't give up hope yet.
ReplyDeleteThe Euro is testing very short term support near 1.3600 and could see 1.3480 if that breaks.
The Euro 1.3480 should be near SPY 108 if the relationship continues.
KC
Its 8:30 and YEs the DOLLAr is up 58cts, and oil is only up a marginal
ReplyDelete20cts, & Europe up some ,so the mystery builds early.
ONe reading calls for a tough start, and that could relate to today and or tomrrow, but eitehr way, I do think they are approaching the precipice of a strong DOWN wave most likely to hit next week
SO, I will continue to build short positions on rallys, and I doubt we will see anything over spx 1110-1112
Jay
Hi Jay,
ReplyDeleteCan you share what the readings for this week say ?
AS2009