Tuesday, January 24, 2012

Same as yesterday..

The market seems to have completed an ABC corrective pattern for a Wave 4 and unless this turns into a complex correction, we should see the market's last rally from here on. And the more time goes on, the more I lean towards labeling the current wave as a 3 primarily because of all trends are turning bullish. So I think once we get to the top of this Wave we should correct for a while before the market puts in a wave to the 1378 area. And if this is the case, then the coming correction is going to be a sideways (a triangle perhaps?) or an ABC (or complex) to the 1270 area more or less. So the game plan remains to the same.. cash until a good risk/reward opportunity appears.

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