Monday, November 1, 2010

One more wave to go...

Well, apparently our potential breakdown last week never materialized. You can see from the hourly chart there have been a ton of subdivided waves in the current wave structure, and that is on an hourly chart!

With the # of waves and the choppiness of the market, I moved some numbers, so that the ED has one more high to make. With the election tomorrow, I guess it makes sense. Based on price action, the market will sell off after the election, but will be temporary (wave 2) or longer term (primary wave 3). I guess we'll know in a couple of weeks.
blog comments powered by Disqus