Tuesday, September 28, 2010

Where to from here...

Price action didn't cooperate today after we got some morning weakness. That puts us in a couple different scenarios:

- We are in some kind of ED, and we will get confirmation with a close below today's low.

- We are in an extended 5th wave, and tomorrow we should bust out of the wedge and head towards our price targets.

No reason to get aggressively short here, but I would hold what I have unless we close above 1160.
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