Sunday, April 26, 2009

weekend update


After we broke through 836 early last week, my favourite count was dead and I shorted the rally from 827 to 872 and am now ~50% short (853 average). 

I count the selloff on Monday as a wave a of B (alt i of (i) of 5). A nice 5-3-5 ZigZag (wave b of B) (with A=C) followed on Tuesday and ended Friday evening.

next week

I'm pretty sure that we'll see nice red candles next week : ). Wave c (alt iii) should start on Monday with a downside target of at least 800.

I'm gonna post some longterm charts after I'm sure that my favourite count is the right count (maybe on Monday or Tuesday) : )


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