Wednesday, December 9, 2009

Price action is getting messy

We touched the bottom of my wave 2 target during the overnight session and pushed to new marginal lows this morning before reversing once again. So far we have not yet had any follow through either way and if the bulls can recapture 1100, then we will have likely put in our 'B' wave and will be pushing to test the highs yet again.

All in all very disappointing.

The bears need to close the market at its lows for the day and below 1085 to get any kind of momentum going. No use on wasting brain power on a count now until we break out of this consolidation range.
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