Tuesday, September 21, 2010

Getting very close...

to a confirmation short signal. From the price action yesterday, it appears we have a 5th wave extention. I'm expecting another small 4th wave (in the neighborhood of 7-10pt) before things really get moving. We did have a nice volatility move yesterday, which is actually getting us setup for the bearish move.

We have massive overhead resistance in the 1157/1164 range. I'm not sure we get there, but if we do, then get ready to short.
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