Sunday, January 31, 2010

Weekend Update

Sorry everyone, but between a cold and a crazy weekend, I just haven't had a chance to put much together. I'll get to everyone's questions tomorrow with a more thorough update.

The only thing I need to highlight is that divergence remains unrespected by the market. A move below Friday's low should create a washout type move with a possible intraday reversal. If not, then we likely are already at the beginning of wave 2 up with confirmation coming from an hourly close above the 34 SMA.

Be patient for the wave 2, it will come.
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