Thursday, March 22, 2012

Close under Trend Average

The market put in a C leg today to the 1390 area and now I am expecting the start of the 5th wave to a higher high unless this turns into a complex W4 correction. However, if the market stays below the trend average then there is a good chance for a change of trend that will finally bring the correction many of us have been waiting for. But for now, I'll assume we'll get another stab at 1414 so I can sell my longs and load up on some shorts :) and btw I hope no one has been holding TVIX, talk about a sell off/scam!

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