Thursday, March 15, 2012

End of bullish wave?

The market reached 1400 in what I see as a 5th wave and now this should be the end on this particular leg, which I am still not sure how to label. And like I posted yesterday, this could be just the end of a W3 as it is exactly the same length as W1 but as it is I see a 5 wave count complete. I could also stretch my imagination and see a zig zag (5-3-5) so tomorrow should give us a better picture of what is to come. If we see more sideways trading then we'll see more bullish waves on top of this one.

I sold my SSO and holding my VIX position and should we get more sideways action, I will get SSO again. Trades were logged as follows:


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