Monday, June 21, 2010

Wow, the train is running on schedule...

it is always nice to at least lead off the week with a dead-on market forecast. I won't get too excited until I see further price confirmation, but no need to doubt my own work until proven otherwise.

So I'll throw up a couple charts. This one is a 5 min chart, which clearly shows impulsive price action going on. There is no guarantee that a minuette wave 1 is finished at today's low, but once price makes it back to the other side of the hourly 8 SMA, then I can call it complete. If our minor wave 3 has started, then we should see continued and consistent selling intermixed with sporadic and sharp rallies.

Let's do this!
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