Monday, May 11, 2009

Not Much to Say

We got another down day today, but nothing to get too excited about, at least not yet. The action has yet to look impulsive, but if we got a significant follow through day tomorrow, then we may be on to something. The Q's look like they are back testing their broken trendline, some follow through below today's low should really get gravity going.


  1. It looks like a fourth wave of a wave C which began from the low of 847 on April 27th. I'm looking for a few up days to complete the fifth wave of wave C.

    Todays drop was exactly what I was looking for. Am I lost in the count?

  2. Bob, We may very well be in a 4th wave triangle. I have yet to see any other possible 4th wave completed wave pattern. If that is the case, then we may have finished wave c of 4 yesterday, and now we would look to wave d and e to complete the triangle.