Friday, August 13, 2010

Bearish count continues...


Sorry for the late post, things were crazy last night...

Yesterday's low was just 4pts shy of my wave 1 target. It is unclear at this point if wave 1 actually finished at yesterday's low because the retracement has been shallow; however, we have eclipsed 23.6%, which is the minimum wave 2. Should price find support today in the 1070 area and close above the hourly 8 SMA, then I'll be looking for a minuette wave 2 completion at least in the 1090 area.
blog comments powered by Disqus