Monday, October 18, 2010

5 waves complete

The back and forth of three waves continue to keep me looking for an ED. With a new high today, we have the setup for a 5th wave. Investor's reaction to Apple's earnings could be the catalyst we need to get some real selling going. The market will show us tomorrow. I continue to look for a test of 1150. I'll be closely watching how the pattern looks going into that price support. If it is a 5 wave, that means we should be able to at least get a test of 1100. If not, then we'll watch the bounce.

Best of luck!
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