Thursday, September 15, 2011

Correction tomorrow?

The correction I was expecting yesterday has not materialized but I am assuming it will come tomorrow. The bottom line is that the market turned bullish the minute it crossed the Trend Average and today's close just confirms the signal. The market should pullback to the TA and might test it successfully this time, if the market goes below it and doesn't recover then it means we're still stuck in a trading range and 1140 will be re-visited. Either way, I am starting to trade mechanically using the TA. As it stands, the system is up more than 15% since the end of July when I started posting real time trades and I changed the title of my blog to reflect what I am doing. Elliott Wave can serve a guide short term but it's secondary to all the other tools I've been using, so technically speaking the blog is no longer about EW.

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