Friday, October 28, 2011


The market is technically correcting and it seems like it still needs to put in another leg down before one more bullish wave. Wave 4s sometimes get MACD crosses but limited price corrections which is what seems to be happening at the moment. So maybe early next week we'll get the C leg of the correction and then we could see a wave to 1300's. The market is very overbought short term and I've seen articles already on the media on how overbought the market is so before you know it we will see a sell off. I read yesterday that we've seen the best month for the SP500 in 37 years! I am holding short over the weekend..

Have a great weekend..

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