Jump to content



Photo

Bounced Off 16 day Cycle Low


  • Please log in to reply
No replies to this topic

#1 blustar

blustar

    blustar

  • Traders-Talk User
  • 6,220 posts

Posted 10 November 2010 - 03:16 PM

I thought for sure that we would cover the gap at SPX 1198 today, but something a little more sinister may be in the cards on the down side me thinks. Looks like a 'b' or '2' wave sucker's play bounce today. Maximum downside looks to be 1168 SPX. E-Gads could we go that low by Friday? I'm still short. We'll see. 18+18+18=54 TD since the August bottom Friday Nov 12. I view late August as the 18 month cycle low, so we could have a nice dip into the 10-11 week cycle low due just about now.

Blessings,

 

blu

BluStar Market Insights Subscriptions