Tuesday, July 17, 2012

1365 reached

The ascending triangle I posted about yesterday did not exactly turn out as projected. However, the 1365 level I mentioned yesterday was reached in today's high. And now that we have 5 waves in, I am expecting a correction. So we should get a W4 or a W2 and if you're on the bearish side then a sell off. Yours truly thinks the market is going higher until trends reverse and as long as the market trades above the trend, we are going towards 1400.

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