Wednesday, January 25, 2012

Almost there

The market made it to 1328 today, which technically would satisfy my 1330 target but I still see a little more room to go on the upside based on the wave count and couple of technical indicators I follow. In an ideal world the market would gap up tomorrow to the 1330+ area and perhaps get close enough to 1340 to short. But one can't get that precise with this stuff, so if we get a gap up tomorrow then I will probably start short positions. The trend average stands at 1308 and my guess at this point is that the coming correction will test the TA at the very least before going higher. So I am hoping tomorrow I can deploy some cash as I've been sitting on the sidelines for the last 2 weeks or so :)

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