Thursday, July 1, 2010

It's late and I'm tired... I'll make it short and sweet. We may have finished off minute wave 1 at today's lows (1011), but I will be very disappointed that we weren't even able to make it to even the top of my zone (1008) and definitely not in the target area (980/1000). I guess we'll see tomorrow based on how the market reacts to the job numbers.

We didn't even get divergence on the hourly charts, so that would be one more vote for another attempt at a slightly lower low (1000-1008) to get some nice divergence setting up. But in the end, the market goes where it is going to go and doesn't seem to care too much about what I want ;-).

Should we be in wave 2, then expect a green close tomorrow, and follow through next week. 1040 is the minimum target, but 1060-1080 looks ripe.
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