Thursday, August 19, 2010

Bears are looking good...

We got what we wanted: an acceleration gap. I'm looking for the next possible bounce to come in at the 1035/1040 area for a potential subdivision. Since we need to get down to 950 area for my minute wave 1 target, we should get at least one subdivision to get there. Tomorrow is options expiration, so anything can happen. It will be interesting to see if Israel decides to spice things up with Iran's nuclear facility potentially getting fueled up this weekend. It would certainly 'fit' the wave pattern.

Best of luck!
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